Reliance Jio to deploy over 100 million affordable smartphones

Reliance Industries Ltd, the renowned international conglomerate’s telecom division, has reportedly announced that it is planning to outsource the production of more than 100 million affordable smartphones. These smartphones will be based on the Google Android platform, as per reliable resources.

As per reports, Reliance’s smartphones would be equipped with data packs and possibly launched by December of this year or in the first half of 2021. This move emphasizes the company’s “2G mukt Bharat” initiative wherein the conglomerate plans to phase out 2G from the country.  

In July, Reliance Industries, the highest valued company of India, also announced that the silicon valley giant, Google would invest a sum of more than $4.5 billion in the company’s digital unit.

Mukesh Ambani while speaking about the same stated that Google would develop an Android OS (operating system) to be aligned with low-cost 5G or 4G smartphones designed by the company itself.

Indian conglomerate has sold about 33 per cent of Jio Platforms shares to raise over $20.22 billion. While doing so, the company has also won the support of leading technology and financial investors such as Qualcomm, Intel, and Facebook. Jio Platforms is a digital services company established in 2019 and a subsidiary of Reliance Industries.

In all, 13 companies have invested in the Jio Platforms. Of these, Facebook is at the top in investments, with a major 9.9 per cent stake in the company which is about $5.7 billion. Likewise, KKR, a private equity investor has also purchased a stake of 2.32 per cent. Other investors of Jio Platforms include Google, Mubadala, Abu Dhabi Investment Authority, and Vista Equity Partners.

Reliance has also initiated talks with KKR and Facebook regarding investments in its retail business. Silver Lake Partners, an American private equity investor is also currently in talks and might invest $1 billion in the company retail business.

Source credit: https://www.channelnewsasia.com/news/business/india-s-reliance-jio-to-roll-out-100-million-low-cost-phones-by-december--business-standard-13094206