Reliance Jio Subsidiary Plans To Refurbish Mobile Handsets In India

Reliance-Jio-Subsidiary-Plans-To-Refurbish-Mobile-Handsets-In-IndiaReliance Jio subsidiary, Reliance Retail is finalizing plans to refurbish mobile handsets in India which would be sold in the overseas market.

The company is in the final stages of talks with lots of after market service companies in India for executing refurbishment of mobile smartphones in India. Reliance Retail has already appointed a senior executive as business head – refurbishment to start this business right from scratch with the objective of managing buybacks of 2G and 3G smartphones during Reliance Jio launch.

Reliance Retail is also designing a process to manage end to end value chain for handling a churn of up to one million mobile phones per month right from exchange – collection – reverse movement – storage – accounting – refurbishing and reselling has been built keeping in mind the challenges that a large country like India poses. The company is also planning to develop vendor both on the supply side as well as sales side.

This is the first time that any mobile operator in India is planning to refurbish mobile handsets on such a large scale thereby would be helping consumers to switch over from 2G and 3G smartphones to 4G.

Reliance Retail presently operates 1,748 outlets in over 500 cities in the country as Reliance Digital, Digital Express and Digital Express Mini stores. These stores are supported by robust supply chain and service capabilities and provide an unmatched distribution reach across Tier I to Tier III cities.

Reliance Retail has added 624 stores across various store concepts in the fourth quarter translating into a store opening rate of 12 stores per week denoting the accelerated store opening program which the business has implemented during the year. As on 31st March 2016, Reliance Retail operated 3,245 stores across 532 cities.

Reliance Retail, a dominant consumer electronics retailer has operationalized 4G devices distribution channel to sell LYF devices, Reconnect accessories, distribution of partner brand devices and will also refurbish mobile handsets.

Reliance Retail has added 624 stores across various store concepts translating into a store opening rate of 12 stores per week denoting the accelerated store opening program which the business has implemented during the year. As on 31st March 2016, Reliance Retail operated 3,245 stores across 532 cities.

For FY16, Reliance Retail reported a turnover of Rs 21,612 crore against Rs 17,640 crore during the same period last year, registering a robust growth of 22.5 percent. Revenue CAGR over the last five years has sustained at 29 percent. The business delivered highest ever PBDIT of Rs 891 crore in FY16 as against Rs 784 crore in the previous year. EBIT for the year stood at Rs 506 crore, up 21.3 percent Y-o-Y.

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