Reliance Jio has launched a new cashback offer in the leadup to Diwali that ramps up the price war between telecom operators. The offer is valid from October 12 - 18, and provides a 100 per cent cashback on every recharge of Rs 399. Users that already have an active data pack can also do this recharge for the next cycle.
Users will be able to access this cashback across its offline and online platforms, the company said. Reliance Jio customers will get eight Rs 50 coupons, that are valid for everybody taking the Rs 399 recharge in the period. The coupons however can be cashed only after November 15. The validity of these coupons will be on plans priced Rs 309 and above and for data add-ons of more than Rs 91. Reliance's share price is trending up today on the news and in the leadup to results.
Airtel has already launched a smartphone offer that undercuts the Jio phone - the company is selling a 4G smartphone at an effective price of Rs 1,399, cheaper than Jio’s 4G Rs. 1,500 featurephone priced at Rs 1,500.
The smartphone - a Karbonn A40 Indian with a retail price of Rs 3,499 – would be sold for an upfront payment of Rs 2,899, with a cash back of Rs 1,500 to buyers of the phone over three years. This effectively ties down purchases of the Karbonn to Airtel's plans and offers for a longer period of time, which guarantees Airtel a longer period of revenue from these customers.