Ties with Facebook, Google to better Jio’s consumer service offerings: RIL

Reliance Industries has said that “strategic initiatives” to be rolled out by its digital unit Jio in partnership with US majors Facebook and Google will further improve its consumer service offerings.

“In the next leg of its growth story, Jio is committed to democratising digital services and enhancing customer experience through innovative platforms and services,” RIL said in its annual report released on Wednesday.

Facebook-owned WhatsApp is collaborating with JioMart, Reliance’s etail venture, while Jio Platforms, the digital unit of the refining-to-retail-to-telecom conglomerate, is collaborating with Google to develop affordable 4G and even 5G smartphones.

Last year, Facebook and Google bought 9.99% and 7.73% stakes in Jio Platforms for nearly Rs43,574 crore and Rs33,737 crore respectively.

RIL also said that Jio Platforms has collaborated with US chipmaker Qualcomm technologies for local manufacturing of “critical equipment” to push the 5G ecosystem in India. Qualcomm had also invested $97 million in Jio Platforms last year for a 0.15% stake.

It added that Jio Platforms is also working with Original Equipment Manufacturers (OEMs) on standardising 5G device configurations.

“With 5G technology, Indian subscribers will experience the benefits of higher data rates, low latency communications and enhanced digital experiences across a wide array of connected devices, from 5G-enabled smartphones,
enterprise laptops and AR/VR products to vertical IoT solutions,” RIL said.

Reliance Jio is currently preparing for 5G field trials, having received spectrum for the purpose from the Department of Telecommunications (DoT). The telco will test its own 5G technology but will also work with its 4G partner Samsung along with Ericsson and Nokia.

“India is at the forefront of the global digital revolution. Jio is accelerating the rollout of digital platforms and indigenously developed next-generation 5G stack, making it affordable and available everywhere,” RIL said.

RIL said that Jio has made over $50 billion investment since inception to create the largest and the most advanced digital and connectivity ecosystem in India. It has built sufficient network capacity for the next 300 million mobile broadband subscribers, over 50 million fiber homes and 50 million micro, small and medium businesses

It currently has over 426 million users.

News source – The Economic Times

Latest articles

Mantra Properties, Solitaire submit bids to acquire realty firm D S Kulkarni through insolvency

According to sources, Mantra Properties and Solitaire group have submitted their bids to acquire D S Kulkarni. Mantra Properties...

Lucknow-based ed-tech company EduGorilla witnesses 350% growth in paid subscriptions in FY 2020-21

Lucknow-based ed-tech company EduGorilla has witnessed 350% growth in paid subscriptions along with a substantial 300% growth in revenue in the same...

Elon Musk’s SpaceX collaborates with GEC to sell space art through cryptocurrency

The announcement of the DOGE-1 mission — a collaboration between Elon Musk’s SpaceX and the futurist Geometric Energy Corporation (GEC) — was...

After Cristiano Ronaldo snub, Coca-Cola lost $4 billion

Global beverage giant Coca-Cola Company lost $4 billion in market capitalisation following Cristiano Ronaldo’s removal of two Coca-Cola bottles during a press...

Related articles

Leave a reply

Please enter your comment!
Please enter your name here