Reliance Communications | In the last four months, the stock price has risen 487 percent to Rs 3.93 per share from Rs 0.67 per share on March 27, 2020.
Reliance Communications' Unlimit today announced a strategic alliance with Chinese telecom gear maker Fibocom to design and manufacture modules for wireless communications and develop internet of things (IoT) solutions.
Unlimit said the number of connected devices in India is projected to rise from 200 million today to 3 billion by 2020, and nearly every part of the economy will be positively impacted by IoT.
"We are delighted to partner with Fibocom to unlock the full potential of the Internet of Things for our customers," Unlimit Chief Executive Officer Juergen Hase said in a statement.
Unlimit is an independent company of Reliance group set- up to focus solely on providing IoT solutions to enterprises.
"The partnership will be dedicated to design and manufacture wireless modules and provide IoT solutions to enable secure communications among machines, equipment, vehicles and assets over wireless networks," the statement said.
IoT technology enables a wide range of machines to communicate with each other via internet or other connectivity.
"With the extensive customer base and channel network of Fibocom, China’s innovative design and famous applications will be brought to the Indian market, thus accelerating the realisation of the 'Digital India' plan," Fibcom vice president Qi Guangzhi said.
Recent analyst reports predict that IoT will grow at a CAGR of 28 per cent over the next 5 years, resulting in technology implementation in India leapfrogging even that of established economies, the statement said.
"Early benefits are anticipated in diverse sectors such as transport, wellness, healthcare, buildings, homes, factories, agriculture, livestock, electric grids and water supply networks," the statement said.