Today, Reliance held its 43rd Annual General Meet (AGM). Just this morning we reported that Google might invest $4 billion in Jio Platforms. In the online meet, Mr Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited (RIL) confirmed the partnership with Google and made the news official. This is a strategic partnership between both companies to overcome existing market challenges. Google is going to invest Rs 33,737 crore into Jio Platforms and will get 7.7% company stakes. Along with this, Mr Ambani also announced the 5G ‘Made in India’ solutions. Keep reading ahead to find out more about this.
Reliance Jio and Google Partner to Develop New Android Smartphone
Much recently Google announced that it is going to invest $10 billion in India over the next 5 to 7 years. Now Jio Platforms has announced that it is partnering up with Google. The partnership between the two companies seeks to develop an Android-based smartphone which costs a fraction of what an average 4G Android smartphone would cost.
Reliance Jio has already sold over 100 million Jio Phones. The challenge which still remains is to provide the users with an Android-based OS smartphone experience. Current Jio Phones can’t do that. That is why this partnership with Google will allow the telco to work with world-class engineers to make the goal of developing a very cheap Android smartphone possible.
Reliance Jio 5G ‘Made in India’ Solution
Mr Ambani also announced the Jio 5G ‘Made in India’ solution. In the AGM presentation, Mr Ambani said, “Jio has created a complete 5G solution from scratch, that will enable us to launch a world-class 5G service in India, using 100% homegrown technologies and solutions.” He further said that Jio is ready for the 5G trials as soon as 5G spectrum is available. Along with that, Jio Platforms will also help the world with upgrading to 5G network by exporting 5G to other operators outside India. Reliance Jio’s 5G solution is made in view with India’s Prime Minister, Shri Narendra Modi’s vision of ‘Atmanirbhar Bharat’. It is completely made and developed in India only.