‘LYF smartphone could be $1-bn brand in 2016-17’

May 13, 2016 10:25 pm | Updated October 18, 2016 01:07 pm IST - NEW DELHI:

Reliance Retail’s LYF smartphone could become a USD 1 billion brand in 2016-17 and corner a market share of about 7 per cent, brokerage firm CLSA predicts in a report. “Achieving about 7 per cent market share of the estimated 137 million smartphone sales in FY17 will mean sales of 10 million units. This could make LYF a USD 1 billion brand using an ASP (average selling price) of USD 100,” CLSA said.

The LYF handsets are available in the price range of Rs. 4,799-19,499 per unit. According to CLSA, LYF has launched its own range of smart televisions priced between Rs. 65,990-1,99,990 and plans to enter the mobile accessories segment. Sales growth in LYF smartphones, the firm said, “could drive a 31 per cent year-on-year bump to Reliance Retail’s financial year 2016 revenue of Rs. 216 billion.”

Ahead of its commercial launch, Reliance Jio has thrown open its service to the public on a trial basis for free. A person can get its SIM only after getting an invite from an employee of a Reliance Industries group firm. The other rider is he will have to buy an LYF handset being sold by Reliance Digital. The company started selling LYF smartphones in January after Reliance Jio offered its 4G service to RIL group employees.

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