Jio May Top India's Mobile Phone Market by 2021: Bernstein
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Reliance Jio Infocomm Ltd., the mobile operator backed by India’s richest man Mukesh Ambani, could be No. 1 in the market in revenue terms by 2021 as it adds more subscribers, said Sanford C. Bernstein & Co. analysts Chris Lane and Samuel Chen.
Industry-leading rivals Bharti Airtel Ltd. and Vodafone Idea Ltd. lack the “stomach” to battle Reliance Industries Ltd.’s Jio, which is luring away users with free voice services and inexpensive phones, Lane and Chen wrote in a report published Dec. 10.