Spending
RCom offers iPhone 5C for Rs2,599 under two-year contract

RCom is offering unlimited voice calls, SMS and 3G data for a fixed monthly fee of Rs2,599 and Rs2,999 with a two-year contract for buyers of iPhone 5c and 5s

Reliance Communication Ltd (RCom) said it is offering Apple's new iPhone 5c and 5s at Rs2,599 and Rs2,999 per month under a two year contract. There is no down payment for both these handset with 16GB internal memory. This offer includes handset cost, unlimited local and STD calls, SMS’, national roaming and 3G data for 24 months.

 

"Under this unique offer, Apple iPhone 5c and iPhone 5s customers will not receive any usage bill for 24 months, as the monthly payments include all usage charges. Only international calls and international roaming charges will have to be paid for," the Anil Dhirubhai Ambani group company said in a release.

 

These types of lock-in offers are more popular in countries other than India, where telecom operators provide iPhone at subsidised rates, but with a contract. RCom is the first company of provide iPhone under such contract.

 

RCom has partnered with select credit card providers, like ICICI Bank and HDFC Bank. The company is also offering special mobile number portability (MNP) facility for corporates besides setting up priority helpline for its subscribers who use Apple mobiles.

User

COMMENTS

Jerin Chacko

4 years ago

Though it is a most interesting offer, the entire amount for two years is reflected on the Credit limit of the card holder and monthly payments are raised on the card statement. So it basically serves to restrict the customer from using her card for two whole years because of a laughably low credit limit.

REPLY

Jerin Chacko

In Reply to Jerin Chacko 4 years ago

Perhaps a more profitable option would be to buy the phone itself online or from a good retailer and pay EMI's on your own credit card. Then use your existing SIM card!

Madhu Menon

4 years ago

It's not a "contract" scheme at all. It's just a straight-up credit card EMI scheme. The entire amount gets blocked on your card and you don't get any subsidised price on the phone.

REPLY

MDT

In Reply to Madhu Menon 4 years ago

Thanks for your comment.
It is a two-year contract with RCom, during which the buyer cannot change operator. RCom has roped in credit card providers to cut the risk of non-payment by buyer. Also if you consider the EMI for 24 months, it comes out to be about Rs18000 more than the current market price of iPhone 5c. But thats the price, one has to pay to enjoy unlimited calls, data along with the latest gadget without any downpayment.

Madhu Menon

In Reply to MDT 4 years ago

On the facts first.

You are mistaken about not being able to change operators. Reliance's own FAQ (see Q5) says you can.

http://www.rcom.co.in/iPhone/iPhone5c/fa...

Next, the way "contract" works in USA is that your phone comes at a subsidised cost from the operator for a lock-in for a set time. For instance, it's available at $99 for a two-year lock-in.
http://allthingsd.com/intromessage/

Instead in India, it's being sold at full price and the only real carrot is the 18K for two years of usage from Reliance, which has has its downside as well. If you change operators because of Reliance service, you lose all the money you paid.

This article has a lot more detail.
http://capitalmind.in/2013/11/is-the-rel...

Madhu Menon

In Reply to Madhu Menon 4 years ago

Sorry, that link should've been.

http://allthingsd.com/20130910/apples-ip...

MDT

In Reply to Madhu Menon 4 years ago

Thanks for your comment and valuable inputs. When the article was written, the FAQs were not available. Anyway.
On changing operator, we request you to read the fine print. RCom states: "...you can move to any operator subject to MNP clearance".
This is the key....RCom may even ask the buyer to pay full amount (for MNP clearance) if she choses to go for MNP!
And you are bang on the 'carrot' part!! :-)

MCX-SX appoints GK Pillai as chairman, Thomas Mathew as vice chairman

SEBI approved the appointments of former home secretary GK Pillai as chairman and Thomas Mathew as vice-chairman of MCX-SX

MCX Stock Exchange Ltd (MCX-SX), the newest stock exchange in India said, it appointed former home secretary Gopal Krishna (GK) Pillai as its chairman and Thomas Mathew T as its vice-chairman.

 

In a release, MCX-SX said markets regulator Securities and Exchange Board of India (SEBI) approved both the appointments.

 

Pillai was in the Indian Administrative Service (IAS) and retired as Home Secretary to the Government of India. Mathew Thomas worked in the insurance industry for 36 years and retired as current-in-charge chairman of Life Insurance Corporation of India (LIC). Last month Mathew was appointed as public interest director on MCX-SX board by SEBI.

 

MCX-SX was set up by Jignesh Shah-led Financial Technologies group, which has also promoted National Spot Exchange Ltd (NSEL) and commodity bourse MCX, among others.

 

Following the resignation of Joseph Massey, the stock exchange is also looking out for a new managing director and chief executive.

 

MCX-SX is the country’s newest stock exchange and began operations in currency derivatives segment from October 2008, while it commenced operations in capital markets trading in February 2013.

User

COMMENTS

R Balakrishnan

4 years ago

Jignes Bhai always finds retired govt bureaucrats.. Probably those folks are used to obeying orders...

Cyclicals like Cairn, Hindustan Zinc, Coal India and BHEL will outperform, says Credit Suisse

Credit Suisse, based on past data, feels that cyclicals are due to outperform defensives and have suggested stocks like Cairn India, BHEL, Coal India and Hindustan Zinc which are undervalued

Credit Suisse is bullish on cyclicals over defensives as the former has outperformed the latter by 14.3% since July. The note said, “We continue to suggest a switch out of expensive defensives like ITC (350% premium) into cyclicals”. Concurrently, they feel that Cairn India, BHEL, Coal India and Hindustan Zinc are undervalued.


Based on several upgrades of cyclicals, Credit Suisse feels that it is right time to invest in them. The note said, “In October, tech, energy, consumer cyclicals and materials were associated with upgrades of 4.1%, 0.7%, 0.4% and 0.3%, respectively, with only Industrials associated with a 1.1% downgrade to 2013E Consensus EPS. In contrast, all three defensive sectors were associated with downgrades –utilities (-1.5%), consumer staples (-0.5%) and telcos (-0.1%).” However, like most analysis, this is based on what has already happened.
 

The valuation gap between cyclicals and defensives grew between July and October, indicating that investors have already switched. The note said, “(the) cyclicals-defensives price-to-book gap in India of -4.5x is the biggest in the region and compares with -3.1x during the 2008 lows.” However, the earnings season is not yet fully done, so it would be premature to comment on valuations fully. Credit Suisse believes that EPS upgrades are due. The note said, “In addition to valuations, we believe EPS revisions support further gains in cyclicals versus defensives.”
 

It remains unclear why Credit Suisse has singled out ITC amongst defensives. The note said, “We continue to suggest investors switch out of expensive defensives such as ITC associated with consensus EPS downgrades.”

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