Reliance Jio foots chunk of bill for cut-price phone, bets on data

By Sankalp PhartiyalMUMBAI (Reuters) - Reliance Industries' telecom upstart Jio is footing at least 40 percent of the cost of its basic 4G phone, two sources familiar with the matter said, as it bets on recovering the investment by luring in millions of new customers.Reliance Industries did not respond to a request for comment.Some Reliance investors may flinch at the cost of subsidies, but the scale of the outlay is a clear signal of the level of Jio's ambition, as it targets an audience of som