There is ET Now report saying that Reliance Jio partners with five banks for financing the sales of its JioPhone Next. Under the initiative, the customers will have to pay 10 percent of the smartphone’s cost upfront. While the rest will be financed by the banks. Moreover, the report reveals the pricing and variants of the upcoming smartphone. The JioPhone 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 reports aiming to sell up to 5 crore units of the smartphone in the next six months.

JioPhone Next availability and Price in India

The JioPhone Next will be available in the Basic and Advanced variants. The pricing will be Rs 5000 for the basic, whereas Rs 7000 for the Advanced variants. The smartphone is expected to launch on September 10th with Pre-booking like going live this week. As per the banking initiatives, the buyers will have to pay 10 percent cost of the JioPhone Next upfront while the lenders will finance the rest of the remaining amount. According to the reports, the State Bank of India, Piramal Capital, IDFC First Assure, and DMI Finance have assured business worth Rs 10,000 crore. In addition, four Non-Banking Companies have assured credit support worth Rs 2500 crore.

Talking about offerings, the JioPhone Next will come with a 5.5-inch HD display with a plastic body with top and bottom bezels. Moreover, the smartphone will come with an 8MP front camera and a 13MP rear sensor. The upcoming device will get power from Snapdragon 215 processor coupled with 2GB or 3GB RAM. The phone will run on Android 11 (Go Edition) OS and will have 16GB or 32GB onboard storage.