Billion-dollar investments, marquee shareholders, and a business built without any Chinese footprint, India’s 10-month old Jio Platforms appears to have all the right ingredients to become the next big global tech giant.
At a time when the world is dealing with a raging pandemic and the global economy is in turmoil, Jio Platforms, a digital conglomerate spun off from India’s Reliance Industries (RIL), has managed to raise over $20 billion (Rs1.52 lakh crore) from investors such as Google and Facebook.
Owned by Asia’s richest man Mukesh Ambani, Jio Platforms dabbles across most new-tech segments such as cloud, media, digital commerce, financial services, gaming, education, healthcare, agriculture, e-governance, and smart cities.
“Reliance has proved its mettle time and again as a company with great tech execution prowess, owing to which it has a high chance of acquiring a seat at the high stake table,” said
Reliance Jio is reportedly developing a Rs. 4,000 (~$54) smartphone.
It’s expected to come bundled with affordable data and calling plans.
Jio is also planning to make around 200 million phones in the next two years.
India’s biggest telecom carrier Reliance Jio is all set to launch one of the world’s cheapest Android smartphones in the country. Google’s huge $4.5 billion investment in Jio could soon yield fruit in the form of a Rs. 4,000 (~$54) smartphone running Android. Bloomberg reports that Jio has been working on prototypes for the phone in secret for the past two years.
Jio is expected to bundle the low-cost Android phone with affordable data and calling plans. The company has also reportedly asked local component suppliers to amp up production so it can make up to 200 million phones in the next two years.
This should go a long way towards fulfilling the telco’s