Reliance Jio has taken 6 million pre-bookings for their latest 4G Jio Phone using marketing psychology to its fullest. The company did not mention any Terms &Conditions (T&C) when the product was revealed in the market, but posted T&C on their website when the distribution of Jio Phone is began today.
Here are the interesting T&C for everyone’s understanding:
1. Jio Phone can be owned with just a security deposit (refundable) of Rs 1500 and nothing more, but once the handset is bought, it needs to be used regularly for a minimum of 3 years.
2. Jio Phone should be recharged a minimum of Rs 1500 every year for a 3 year time period from the date of purchase. In case the user wishes to not use the phone during the 3 year period, the company has sole right to take back the phone without any explanation.
3. In case the user voluntarily wishes to return Jio Phone to the company before the 3 year period, they have to pay the ‘Early Return Charges’ based on the time period along with ‘GST or other taxes’. The return charges vary over the 3 year period and the company will return the refundable deposit of Rs1500, after.
4. Jio Phone can be returned to the company after the mandatory usage of 3 year period and get their refundable deposit provided the handset is not damaged. The refund can be reclaimed only within 3 months after the expiry of the 3 year period, after which it cannot be.
So, this is a wake-up call for all of us to read the T&C and also not give into buying or pre-booking a product before having an understanding of the conditions that come along and the price we have to pay for it.