Mukesh Ambani, representative of the Indian mobile operator Reliance Jio, a subsidiary of Jio Platforms Ltd. – announced a partnership with Google. In addition to providing communication services, Jio Platforms is developing in the Indian market the development of a national platform for online trading and online services, but the result of its cooperation with Google should be a completely new entry-level smartphone.
Jio is already known in India for its budget phones running KaiOS. The development of the new smartphone will be mainly by Google.
At the annual meeting of shareholders of Jio Platforms it was reported that Google invested $ 4.5 billion in the company, buying 7.73% of the shares of the mobile operator. Recall that earlier in Reliance Jio $ 5.7 billion was also invested by Facebook, which currently owns a 9.99% stake in the operator. Thanks to these and other injections, Jio Platforms has attracted about $ 20.2 billion from 13 investors over the past four months, selling about 33% of the shares.
It should be noted that Indian companies have begun to actively attract Western investments in connection with the heated political conflict with China. Since the United States is in a state of trade war with the China, such cooperation is beneficial for both sides.