The opportunity presented by the opening up of the digital economy was grabbed by many.Īccording to online tracking agency 42 Matters, there are over 161,373 apps on Google Play from Indian publishers.Ībout 3 per cent of them are paid for, while a substantial 40 per cent are supported by advertising (higher than the global average of 38 per cent). The global average was only 45 per cent in the same period. In comparison, app downloads in China were up by 80 per cent. It also led to a dramatic growth in app downloads by Indians.Īccording to App Annie data, the number of apps downloaded tripled from 6.5 billion in 2016 to 19 billion in 2019. This is reflected in the fact that the value and volume of UPI transactions went up by a staggering 206,000 times and 395,000 times respectively between August 2016 and the same month this year. It also powered consumers to shift quickly from cash to digital payments making transactions on apps simpler. The revolution also enabled consumers to change the way they shopped, saw movies, bought insurance or food, booked holidays, or consulted a doctor. It spurred the growth of online start-up companies which hit unicorn status across broad swathes of industry.
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We are just starting to understand the full force that was unleashed when Jio blew up the affordability barrier of data."
JioPhone Next is going to come with price support from the telco as well.Incumbent operators had no choice but to follow suit.įive years later, the data revolution kicked off by Jio has dramatically changed the county's business and consumer sweepstakes.Ījit Mohan, managing director, Facebook in India, says: "There is no doubt at all that Jio's disruption of the mobile broadband market was a turning point for India's digital economy and enabled the growth of many services from Hotstar to Facebook. JioPhone Next price: The JioPhone Next devices, both the Basic and the Advanced variants, are going to be priced under ₹10,000 and come with no-cost EMI of up to six months and additional benefits (worth ₹7,000 to ₹10,000) depending on the device. Reliance Jio has invested ₹20 crore in Neolync solutions earlier this month and the company has set internal targets with distributors and financers for sales. This has been approved to receive SOPs under the PLI scheme for handsets. UTL Neoluncs is a joint venture between Bengaluru-based UTL group and Neolync Solutions. Who is producing JioPhone Next: Reliance Industries has placed an initial production order for JioPhone Next 4G smartphones to UTL Neolyncs. Also, four non-banking financial companies have assured ₹2,500 crore worth of credit support as per a report by ET Now. The five banks Reliance Jio has tied up with include State Bank of India (SBI), Piramal Capital, IDFC First Assure, and DMI Finance - they have all reportedly assured business worth ₹10,000 crore.
The report also notes that JioPhone Next buyers will have to pay (downpayment) just 10% cost upfront and lenders will finance the remaining amount. How JioPhone Next has made it easier for buyers: As per another report, Reliance Jio has also tied up with five banks to finance the sales of the JioPhone Next mobile and the company aims to sell up to 5 crore JioPhone Next units within six months of the launch.