After conquering the prepaid mobile market, Asia’s richest billionaire Mukesh Ambani has now made it clear that he wants to become the king of postpaid as well and that price will be his primary weapon to dethrone rival Bharti Airtel.
Reliance Jio, which is India’s largest telecom player, has launched new postpaid family plans starting from Rs 399 and Rs 99 for every add-on connection.
Jio’s new plan, which is at a discount of around 30% to other competitors, comes at a time when investors were hoping for tariff hikes in the stressed telecom sector.
Market watchers say an increase in competitive intensity could delay tariff hikes and pose downside risk for Airtel investors.
Bharti Airtel shares, down nearly 8% in the last 3 months, lost up to 2.5% at Rs 752.20 in today’s session.
“Jio has so far been unable to replicate its prepaid success in the postpaid category (~7.5% of subs and ~10%…
