汇丰银行-印度电信业-indian telecom：understanding the jio 4g feature phone impact-20170721-hsbc.pdfVIP

21 July 2017   Indian Telecom EQUITIES WIRELESS TELECOM Understanding the Jio 4G feature phone impact India  Jio feature phone is free, but upfront cash outlay is INR1500 Rajiv Sharma* Analyst  Handset financing schemes may see a sharp upsurge HSBC Securities and Capital Markets (India) Private Limited rajivsharma@hsbc.co.in  Maintain Reduce on Idea Cellular with TP of INR58 +9122 2268 1239 Darpan Thakkar* Analyst 4G entrant Jio (not listed) announced that its 4G feature phone will be available for HSBC Securities and Capital Markets (India) Private Limited darpan.thakkar@hsbc.co.in free, however subscribers may need to pay upfront INR1500 in the form of a three year +9122 6164 0695 refundable deposit, implying the feature phone is priced at an adjusted NPV of INR350 (assuming 8% interest lost on a 3-year deposit of INR1500). The monthly outlay to