Reliance Industries Limited, India's most valuable company on Wednesday held its first online annual general meeting (AGM) in view of the novel coronavirus pandemic. Mukesh Ambani rolled out a series of big-bang announcements, including Google’s investment into Jio Platforms unit and development of an affordable smartphone in partnership with the search engine giant. He also announced that the company has designed and developed a complete 5G solution from scratch. In addition, Jio also revealed that the company is developing Jio TV Plus, Jio Glass, and more. The company also announced details about JioMart and Jio 5G solution.
Ambani said, “Jio has developed a complete 5G solution from scratch that will enable us to launch a world-class 5G service in India.” The telecom operator promises 100 percent home developed 5G. Trials to start soon and will be ready for field deployment by next year.
Reliance AGM 2020: Major announcementsGoogle- Jio to develop cheap 5G smartphone
“Have sold 100 million Jio Phones till date. But there are many feature phone users waiting to upgrade to a conventional smart phone. We believe we can design an entry level 4G or even a 5G smart phone. We believe that we can design such a phone at a fraction of the current cost. Google and Jio are partnering to build a value-engineered Android based smartphone Operation System,” RIL Chariman Mukesh Ambani said.
“JioMart is built upon two fundamental pillars -- 1. A powerful omni-channel tech-platform to unite customers, kiranas and producers. 2. A widespread physical network of Reliance Retail that takes benefits of new commerce to every corner,” said Isha Ambani.
Reliance announces JioTV at AGM 2020. It is a content aggregator that delivers TV channels, shows and movies and much more from various apps and services. Jio TV Plus feature aggregated content from over 12 leading global OTT players such as Netflix, Amazon Prime, Disney Hotstar, Voot, SonyLiv, Zee5, JioCinema, JioSaavn, YouTube and many others, Akash Ambani said.
Google to invest Rs 33,737 cr for a 7.7% stake in Jio Platforms
Mukesh Ambani announces that Google will invest Rs 33,737 cr for a 7.7% stake in Jio Platforms. Reliance is now a zero net-debt company, says Ambani.
Jio ready with 5G solution
Jio is ready with a world class 5G solution. Field deployment can happen next year. This 5G product will be available for trials as soon as spectrum is available. Jio Platforms will be positioned for 5G solution to other telecom operators.
Made-in-India Jio 5G Solution:
Jio has developed complete 5G solution from scratch that will enable us to launch a world-class 5g service in India. "Reliance became the first Indian company of m-cap of $150 billion", says RIL Chairman Mukesh Ambani.
“Reliance will work with other Indian companies, including start-ups, to vigorously promote “Made-in-India”, “Made-for-India” and “Made-for-the-World” products,” he added.