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Jio Launches Jio Bharat 4G Phone at Rs 999, Aiming to Make India ‘2G-Mukt’.

Jio Bharat 4G

Mukesh Ambani-led Reliance Jio on Monday announced a new entry in the market by unveiling the Jio Bharat V2 phone, which retails for Rs. 999, six years after it originally introduced a 4G-enabled feature phone. According to the statement, the beta testing of the first 1 million of these inexpensive mobile internet-enabled gadgets will begin on July 7.

Jio Bharat platform, a new operating system introduced by the firm, will be used to manufacture phones by other brands, including Karbonn, the company announced.

The business emphasised that there is a significant digital divide in the country due to the 250 million feature phone users, and Jio Bharat V2 phones will give economically disadvantaged populations access to high-quality, affordable data.

In addition, Jio revealed a bundled monthly plan for Rs. 123 that is 30% less expensive than the minimum Rs. 179 monthly plans offered by other operators. It will provide 14 GB of free data with the plan, which is seven times the 2 GB of data provided by its rivals. The cost of the annual plan is Rs. 1,234. Both packages offer limitless calling. Jio claimed that the future trials, which would be conducted over 6,500 tehsils, will guarantee the scalability of the platform and procedures for upgrading millions of feature phone customers.

The Jio Bharat V2 phone features a detachable 1,000 mAh battery in addition to a 1.77-inch QVGA TFT display. It will only accept UPI payments made through JioPay and be limited to the Jio network. The JioSaavn service, which offers more than 80 million songs in various languages, and JioCinema, which offers movies, videos, and sports entertainment, will also be available, according to the business.

Jio accused rivals Bharti Airtel and Vodafone Idea for raising entry-level prices, saying that by doing so, “other telecom operators increased the minimum price to stay connected by more than twice,” which has led to increased digital inequality and disempowerment for users of feature phones. It said that even the most fundamental voice services for a month, which had previously cost Rs. 99, now cost Rs. 199.

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Because users in this sector cannot afford smartphones, incumbent operators prey on them the most. These people struggle with affordability as well as barriers to using digital services, the company claimed.

Reliance Jio Chairman Akash Ambani argued in a statement that “technology will no longer remain a privilege for a select few” and that the new phone is a step towards innovation.There are still 250 million mobile phone users in India who are unable to access the most fundamental internet features at a time when the globe is on the cusp of a 5G revolution. We made it clear when Jio was announced six years ago that Jio would do all possible to democratise internet access and share technical developments to every Indian, he added.

JioBharat4G
For Rs. 1,500, Jio released JioPhone in April 2017—its first 4G feature phone—for the then-500 million-strong market for feature phones. The company promised a three-year refund on the purchase price.

The business unveiled the more expensive JioPhone 2 in August 2018. The JioPhone Next, created in collaboration with Google and released in 2019, was the company’s most recent entry-level smartphone and ran on Pragati OS, an optimised version of Android.

 

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Samsung Unveils Cutting-Edge Fitness Tracker ‘Galaxy Fit3’ in India

Samsung

Samsung Unveils Cutting-Edge Fitness Tracker ‘Galaxy Fit3’ in India

The Galaxy Fit3, a new fitness tracker from Samsung featuring cutting-edge health-monitoring technologies, was released on Friday in India. Available for purchase on the company’s official website as well as at major online and offline retail locations, the Galaxy Fit3 is priced at Rs 4,999 and comes in three colors: grey, silver, and pink gold.

“Aditya Babbar, Senior Director, MX Business, Samsung India, said in a statement that the Galaxy Fit3, as our newest fitness tracker, underscores our commitment to providing accessible resources that encourage everyday well-being and encourage everyone to strive for their personal growth.”

The 1.6-inch display on the Galaxy Fit3, which is 45% broader than the previous generation, and its aluminum body make it simpler for consumers to quickly view detailed insights. It fits comfortably and is elegant and lightweight.

According to the firm, users can also add style and personalization to their tracker by choosing their preferred watch face from over 100 presets or by using their images as the background.

Also Read: Morgan Stanley Predicts India’s GDP Growth to Slow to 6.5% in FY2025

Users can also simply examine their exercise history and track over 100 different types of workouts at any time and from any location. Users may enjoy outdoor activities in a range of situations with the Galaxy Fit3, as it is rated 5ATM and has IP68 water and dust resistance.

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Morgan Stanley Predicts India’s GDP Growth to Slow to 6.5% in FY2025

GDP

Morgan Stanley Predicts India’s GDP Growth to Slow to 6.5% in FY2025

According to international banking giant Morgan Stanley, India’s economic growth would decline from 6.9% expected for FY2024 to 6.5% in FY 2025. “Concerning development, we guess that it will keep on being vigorous. As of December 2023, GDP is projected to ascend at 6.5%, albeit diminishing from 7.7% in the first half of FY2024. In its latest exploration report on the Indian economy, Morgan Stanley expressed, “We anticipate that GDP should average 6.9% in FY2024 and 6.5% in FY2025.”

The Monetary Policy Committee of the Reserve Bank of India has modified its GDP projections for FY 2025, bringing them down from 7.3% for FY24 that the National Statistical Office had anticipated. Remarkably, the public authority expanded its conjecture for ostensible Gross domestic product development meanwhile financial plan set on February 1 free from 8.9 percent in 2023-24 to 10.5%, without representing the pace of expansion.

In terms of macro-stability, Morgan Stanley anticipated that title expansion would average 4.5 percent in FY2025 and 5.4% in FY2024, with a reach bound gauge of 5.0-5.2 percent in the primary quarter of FY24, supported by a good base impact.

Positive Economic Indicators Signal Growth Amidst Global and Domestic Challenges

With the strength of services exports and the declining price of commodities globally, particularly oil, the current account deficit is expected to stay benign and track at 1.2% of GDP in FY24 and 1.3% of GDP in FY25. In terms of monetary policy, Morgan Stanley stated, “In our base case, we build in a shallow rate cut cycle of 50 basis points from June 2024, even as we continue to remain vigilant of risks from stronger-than-expected growth (strong credit growth), which could postpone the rate easing cycle.”

Also Read: India Expects 9.5% Salary Increase in 2024; Infrastructure and Manufacturing Sectors Lead Growth

Morgan Stanley reported that although economic stability is still comfortable and reflects strength in the fundamentals, domestic demand strengthened in January. “We continue to view the economy favorably. Worldwide events and the May 2024 elections pose risks, the statement read.

In January, domestic demand increased both sequentially and YoY as it slowly increased to a three-month high. GST collections increased to Rs 1.7 lakh crore, the second-highest amount ever, gaining 10.4% annually, while the Manufacturing PMI improved to 56.9, continuing to be expansionary since July 21. Regarding external demand, exports increased 3.1% in January compared to 1% in the previous month.

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India Expects 9.5% Salary Increase in 2024; Infrastructure and Manufacturing Sectors Lead Growth

India

India Expects 9.5% Salary Increase in 2024; Infrastructure and Manufacturing Sectors Lead Growth

According to a survey released on Wednesday, salaries in India are predicted to rise by 9.5% this year as sectors like manufacturing and infrastructure continue to see strong growth. According to a survey by global professional services firm Aon, manufacturing will experience a salary improvement of 10.1% and life sciences, 9.9%, while global capability centers (GCCs) are likely to receive a pay hike of 9.8% in the nation.

It is anticipated that employees working in financial institutions will experience compensation increases of approximately 9.9% this year, while pay growth for tech platforms, services, and goods will be 9.5%. The study examined information from 1,414 businesses across nearly 45 categories. It was discovered that the overall attrition rates decreased from 21.4% in 2022 to 18.7% in 2023.

“A strategic adjustment in response to the evolving economic landscape is indicated by the projected increase in salaries in the Indian formal sector,” stated Roopank Chaudhary, chief commercial officer for talent solutions at Aon in India and partner.

“Industries like infrastructure and manufacturing continue to project robust growth, indicating the need for targeted investments in certain sectors,” he continued, despite a generally pessimistic outlook on the world economy.

Also Read: Byju’s Successfully Raises $200 Million Through Fully Subscribed Rights Issue

Reductions in attrition benefit organizations because they free up resources for capacity building and productivity enhancement, which feeds back positively.

According to Jang Bahadur Singh, director of talent solutions at Aon in India, “as leaders prepare for 2024, their focus is likely to shift towards building a supportive work environment to foster employee engagement in a dynamic job market.”

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