Reliance LYF, a subsidiary of Reliance Retail, was established by Jio and has been in operation since 2015. LYF is an acronym for Lighter Younger Faster; Live Your Freedom; Love your Family.
Unmatched scale of expansion
Sunil Dutt, president of Reliance Retail, said that LYFs operations have begun with 120,000 retail outlets and 1,200 plus distributors, with nearly 5,000 of our own sales force.
It is the clout of being the largest electronics retail chain in India that drives thisvirtually unmatched scale of expansion, as Dutt puts it.
Gaining market share
Reliance has set itself apart from startups whose only aim is to outdo the latest iPhone. LYF offers a variety of 4G enabled smart phones across different price ranges, so that consumers looking for amazing features as well as those looking for affordability can be catered to. These phones will not only be future-ready, but also best-poised to exploit 4G. LYF Water 1 and LYF Water 2 are some of the earliest models.
To gain market share, Reliance is not focusing on the tech-savvy but rather those who own 2G feature phones,and convincing them to switch to their efficient 4G service.
Customer experience oriented
To make the process of switching seamless, Reliance is making a device available at its outlets which will enable customers to transfer their previous data from old phones to their ones.
Reliances chief brand and design officer Caroline Seifert says that LYF phones will be like the customers identity they will provide them with a way to express themselves, thus projecting LYF as a lifestyle brand.
360 degree ad campaign
Reliance is making full use of the upcoming Indian Premier league to promote Jio 4G and LYF handset brands. The LYF logo, along with the tagline Smartphone+, will be emblazoned on the right arm of all Mumbai Indians players. This tagline establishes LYF as an entire techno-ecosystem including 4G services, video on demand and news, rather than just another smart phone manufacturer.
Price efficient services
LYFs venture into the market is eagerly awaited in the hope that it will bring changes in data service, just as it did in wireless communication 13 years ago. Mukesh Ambani successfully brought down call tariffs in India from Rs. 3 per minute to just 40 paise. He promises that by next year, Jio users will be able to consume up to 10 GB per month.
Venture into multibillion dollar market
Reliance LYF is also considering a venture into the wearable devices market, which is estimated to value between $14 billion to $40 billion by 2020. LYF aims to enable customers to enjoy the power data irrespective of the network. The devices have been built for a true experience of 4G, and devices and network have no correlation for the company.
Launch of LED smart TVs
Reliance Digital has launched three LYF 4K smart TVs, priced between Rs. 65,990 and Rs. 199,990. The special features that these TVs provide are Android 4.4 Kitkat software, which enables screen mirroring, multi-sharing and Miracast. To take on DTH operators, Reliance is also planning to offer a variety of video-on-demand services and Live TV.
About the Author:
The author is a Mumbai-based journalist and writer. He writes extensively about business, economics and sports.