- Reliance Jio has partnered with banks and NBFCs for Jio Phone Next for EMI options
- Customers will be able to pay Rs 500 or Rs 700 as the initial payment
- The pricing of the Jio Phone Next has also been revealed
Reliance Jio has partnered with five banks for financing the sales of its Jio Phone Next, as per a report by ET Now. Under the initiative, interested customers will have to pay 10 percent of the smartphone’s cost upfront while the rest will be financed by the banks. The report also reveals the pricing and variants of the upcoming smartphone.
The Jio Phone Next has been co-developed with search engine giant Google. The affordable 4G smartphone was announced at the company’s 44th AGM in June this year. The telecom major is reportedly aiming to sell up to 5 crore units of the Jio Phone Next in the next six months.
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Jio Phone Next price in India
The Jio Phone Next will reportedly be available in the Basic and Advanced variants priced at Rs 5,000 and Rs 7,000 respectively. The smartphone is expected to launch on September 10th with pre-bookings likely going live this week.
Jio Phone Next EMI options
As mentioned earlier, buyers will have to pay 10 percent cost of the Jio Phone Next upfront while lenders will finance the rest of the remaining amount. According to the report, State Bank of India (SBI), Piramal Capital, IDFC First Assure, and DMI Finance have assured business worth Rs 10,000 crore. Additionally, four Non-Banking Financial Companies (NBFCs) have assured credit support worth Rs 2,500 crore.
Jio Phone Next specifications and features (expected)
As per past leaks, the Jio Phone Next will reportedly come with a 5.5-inch HD display. It will feature a plastic body with top and bottom bezels. The smartphone could come with an 8MP front camera and a 13MP rear sensor.
The Jio Phone Next is expected to be powered by a Snapdragon 215 processor paired with 2GB or 3GB RAM and 16GB or 32GB onboard storage. It will be backed by a 2,500mAh battery unit and run on Android 11 (Go edition) OS.