Shares of Indian telecom operators, including Bharti Airtel and Vodafone Idea, fell between 2% and 3% after Reliance Jio announced plans to launch a $12 4G phone targeting the untapped entry-level 2G market in India. Analysts at Jefferies predict that Jio's new phone could boost its subscriber additions by 20-22 million annually, resulting in a 2-3% increase in revenue and operating earnings in the next fiscal year. The move is expected to have a negative impact on the revenue and operating earnings of rival Bharti Airtel by 1-2%.