Jio wins the QUALCOMM backing in a boost to 5g plan. they will also receive Rs.730 cores investment. Reliance Industries announced on Sunday 12th July 2020 that Qualcomm’s investment company will buy a 0.15% stake in Mukesh Ambani’s digital unit Jio platforms for almost $97.1 million( Rs. 730 cores). QUALCOMM has become a new benefactor Reliance Jio platform. QUALCOMM is a public multinational corporation in American. It is invested in many companies now Jio is also included their list.
QUALCOMM and Jio Bonding-
Jio officially announced this investment news via their Twiter handle. In the month of April Reliance has sold their 25.2% stake in Jio to a lender in a funding spree that collected almost $15 billion.
However, Jio also made of Reliance’s music and movies applications.
Reliance chairperson Mukesh Ambani has always told that Jio Infocomm as Tech Company rather than a telecom firm. This thinking process of Ambani’s win the patrician of the technology firm such as Intel, Facebook now new capitalist QUALCOMM.
QUALCOMM is helping hand for Reliance digital Jio platform to build 5G network services and the digital transformation of India for both enterprises as well as people this said by Ambani in his statement.
Also Qualcomm chief executive of Steve Mollenkopf said that they will deliver a new set of services to the Indian industries and people. They also provide emerging 5G services in the coming years.
Reliance Digital Jio platform, which is the biggest competitor of Bharti Airtel and Vodafone Idea in India bit them in the India telecommunication market by offering low voice call rate and data plans.
India became a digital India after Reliance launched the Jio telecom services. Hopefully, we will see many more new technologies in India.