Mumbai: Indian mobile service provider Reliance Communications has launched its latest mobile phone ‘Classic 732’ at just Rs 999, the lowest in Indian market

A top company functionary stated that ‘Classic’ is India's prime operator-driven handset product brought out by Reliance at an affordable entry level pricing.

S P Shukla, Reliance Communications President, Personal Business told, “We have crossed the one crore sales mark in Classic handsets. Now, the Classic 732 will become the entry level handset for new mobile users in the country.”

The company launched the Classic monochrome phones at a price of Rs 777, in May.

“With about 200 million mobile users in India, the penetration still is at a low of 20 per cent. Apart from affordability for new customers, we have to enhance the experience of existing customers,” Shukla said.

Mr. Shukla didn’t comment on the manufacturing cost of the phone or the price at which the company was buying it.

“The pricing is through a comparison of acquisition cost of a new customer and the customer life cycle value,” he added.

Reliance Communication has an overall customer base of more than 38 million comprising 1.2 million individual overseas retail customers. Its average revenues per users stood at Rs 375.