Indian telecom giant Reliance Jio is expected to release its new entry-level 4G smartphone dubbed as JioPhone Next very soon. This handset is developed in partnership with Google. A few days back, we learned that the device might be available for pre-order starting this week. But unfortunately, there’s still no update on it. However, a TV news channel seems to have reported on the pricing details of the JioPhone Next earlier this week.

According to Economic Times (via 91Mobiles), ET Now (business and finance news channel) shared details of JioPhone pricing and offers on Monday (August 30) citing sources.

As per the report, the JioPhone Next will be available in two variants, namely Basic and Advanced. These versions are said to be priced at ₹5,000 ($68) and ₹7,000 ($96) respectively. Customers buying the phone will have to only pay 10% cost upfront, while the remaining amount will be financed by the partner lenders.

The report says that Jio has partnered with five banks like State Bank of India, Piramal Capital, IDFC First Assure, and DMI Finance for financing the sales of its upcoming handset. Each of these banks has reportedly assured business worth ₹10,000 crores. That’s not all, Jio is also reported to have assured ₹2,500 crores worth of credit support for four other Non-Banking Financial Companies (NBFC).

Further, Reliance Jio is aiming to sell a whopping 50 million units of JioPhone Next in the first 6 months. The telecom company has already set internal targets with distributors and financiers for sales.

The Jiophone Next is manufactured by UTL Neolyncs, a joint venture between UTL Group and Neolync Solutions. The smartphone is scheduled to go on sale from September 10.

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