After storming the Indian telecom sector with its lucrative offers and affordable 4G services, newbie telecom operator Reliance Jio is ready to take over the smartphone space in the country. The word is that the company is planning to launch 4G-enabled smartphones that could cost as less as Rs 1,500 (no, we’re not kidding).

According to reports, Chinese chipmaker Spreadtrum Communications has already started working on reducing the prices of 4G smartphones at least by half. At present, 4G phones are available at around Rs 3,000. If the company gets successful, the prices of smartphones working on 4G technology could come down to Rs 1,500.

Reliance Jio has already entered into a two-year partnership with Spreadtrum, wherein the company would be making Android-enabled 4G smartphones, including LYF Flame 5 smartphones, for Jio.

Jio’s aggressive strategy has started a telecom war in the country. It has also helped it to penetrate into the rural areas in the country. If Jio manages to pull off such a feat, it would help the company to establish a clear dominion in the Indian telecom market.

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Interestingly, Jio is not the only company that is working towards developing cheap 4G smartphones in India. If reports are to be believed, homegrown Micromax too is working on a similar phones that would cost around Rs 2,000.