Reliance Jio to launch 5G services in India in 2021
Published On: Tuesday, December 8, 2020 | By: Team KnowMyStock
Shares of Reliance Industries advanced nearly 3 per cent to Rs 2,014 on the BSE in the intra-day deals on Tuesday after the chairman Mukesh Ambani said during his keynote presentation at India Mobile Congress 2020 that the company plans to launch 5G services in the second half of 2021. Jio’s 5G service will be powered by indigenous-developed network, hardware and technology components, Ambani added. At the same time, Ambani urged the government to take policy steps “to accelerate the early rollout of 5G, and to make it affordable and available everywhere.” Ambani, at RIL’s 43rd annual general meeting in July, had said, “Jio has developed a complete 5G solution from scratch. This will enable us to launch a world-class 5G service in India using a 100% homegrown technology and solution".Jio has been working with companies like Samsung and Qualcomm to bring 5G to India.
Meanwhile, Reliance Industries Limited is also simultaneously working with Google on low-cost smartphones running a localised version of Android software.Jio Platforms raised ₹1.52 trillion from investors such as Google Inc. and Facebook in just four months this year to achieve its digital goals. Qualcomm Ventures, the investment arm of Qualcomm Inc., has also invested ₹730 crore in Jio Platforms for a 0.15 % stake.
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