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Last Updated : Jul 15, 2020 04:59 PM IST | Source: Moneycontrol.com

RIL AGM: Reliance Jio and Google partner to build an affordable Android-based 5G smartphone for India

“The Jio-Google partnership is determined to make India 2G-mukt, said Mukesh Ambani at RIL AGM.


Reliance Industries (RIL) at its 43rd AGM 2020 has announced its partnership with Google to build a new smartphone operating system for its affordable 5G smartphones in India.

RIL CMD Mukesh Ambani announced that the company is partnering with Google to build a value-engineered Android-based smartphone operating systems. 

Ambani said, "Jio has offered affordable 4G devices to more than 100 million feature phone users who upgraded to Jio Phone. However, more than 350 million feature phone uses remain in the country and to bring them on board, Reliance will bring an entry-level 4G or even 5G smartphone for a fraction of its current cost. To power such a value-engineered smartphone, we also need an equally value-engineered smartphone operating system which will be designed from ground-up."

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He added, “The Jio-Google partnership is determined to make India 2G-mukt."

Track all the updates on RIL AGM by following our LIVE blog here

Sundar Pichai, CEO of Google and Alphabet, on the partnership with Jio said,"Today we signed an agreement to invest $4.5 billion (INR 33,737 crore) in Jio Platforms Ltd, taking a 7.73 percent stake in the company, pending regulatory review in India. This is the first investment from the Google For India Digitisation Fund announced earlier this week, which aims to accelerate India’s digital economy over the next five to seven years through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments."

The investment by Google—the 14th such deal in less than 13 weeks—takes the total stake that Reliance sold in Jio Platforms to a skosh over 33 percent. Mumbai-based RIL has now raised a combined Rs 1,52,056 crore from some of the world’s leading tech investors in the largest fundraising exercise by a company anywhere in the world and during a global lockdown at that. 

Follow all of our coverage on RIL's 43rd annual general meeting here.

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Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
First Published on Jul 15, 2020 03:14 pm
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