The annual common meeting (AGM) of Reliance Industries (RIL) to be held next Thursday could give clarity on pricing, features and tariffs of Jio-Google phones.
At the company’s AGM last year, Mukesh Ambani, chairman and managing director, RIL, had announced that Google would companion with Jio to design and style an operating program to bring out an cost-effective entry-level smartphone, which Ambani stated was a step in generating India “2G-mukt”.
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Google LLC had also invested Rs 33,737 crore or $4.5 billion to choose up a 7.73% stake in Reliance’s digital arm Jio Platforms. The US tech giant had stated it will be investing Rs 75,000 crore or $10 billion into India by means of equity infusion and partnerships more than the next 5-7 years. The investment in Jio had covered nearly half of its commitment via Google for the India Digitization Fund of $10 billion.
However, according to analysts, phones are unlikely to be readily available straight away. “In our view, the phones are unlikely to be available for the next two months at least,” analysts at BofA Securities stated in a report.
Further, clarity on JioMart and other on the net commerce enterprises along with the JioMart-WhatsApp integration is also anticipated to be announced at the AGM. There could also be more clarity on “incremental information on the road map to net carbon zero and ESG with focus on clean/renewable energy and thoughts on Made in India 5G, digital and content strategy”, analysts stated.
It is also anticipated that RIL may well introduce a new cost-effective laptop to tap into the enormous demand for work from home machines. “We don’t consider this to be material news from a stock perspective even if the pricing is aggressive,” BofA analysts stated.
In its most current annual report, RIL highlighted that Jio is accelerating the rollout of digital platforms and has indigenously created the next-generation 5G stack. Qualcomm and Jio effectively tested 5G options in India, reaching the 1 GBPS milestone on the Jio 5G remedy, it stated. RIL also stated that Jio has constructed adequate network capacity for the next 300 million mobile broadband subscribers, more than 50 million fibre houses and 50 million micro, tiny and medium enterprises.
In FY21, Jio Platforms completed fundraising of Rs 1,52,056 crore across 13 international marquee investors, which involve Google and Facebook, amongst other folks.