Qualcomm investing 97 million dollars in Reliance Jio platforms is indeed a piece of news worth raising interests in the tech circles. Reliance Jio platforms are nearly four years old. However, they have proved to be a significant disruption in the world’s fastest-growing economies. Over the last few months, Reliance Conglomerate has raised enormous funds from international investments, including Facebook.
Qualcomm Invests 97 Million USD in reliance Jio Platforms.
Qualcomm’s latest announcement about massive investment would be a significant boost to the Reliance Jio business in India. The company would acquire a Fully Dilute basis equity stake of .15 percent in Jio and help the company in its next phase of growth along with rolling out 5G internet for Indian customers.
Reliance a major Indian telecom disruptor
Airtel and Vodafone Idea are the significant competitors to Reliance Jio. However, Jio has surpassed all competition by acquiring 400 million subscribers only to be the most significant carrier in India in a short span of 4 years.
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High profile investments
Silverlake, Facebook, Intel, and General Atlantic have recently come forward to invest and back Reliance Jio platforms, making it a strong player in the world. Interestingly Covid-19 pandemic has turned out to be a happening period for Reliance Jio in which the company has raised high profile investments selling off more than 25 percent of the stakes.
Reliance Jio driving India’s digital transformation
Qualcomm backs Reliance Jio’s commitment to delivering high-end services and telecom experiences to Indian customers in the coming times. The CEO, Steve Mollenkopf, said that
“With unmatched speeds and emerging use cases, 5G is expected to transform every industry in the coming years. Jio Platforms has led the digital revolution in India through its extensive digital and technological capabilities. As an enabler and investor with a longstanding presence in India, we look forward to playing a role in Jio’s vision to further revolutionize India’s digital economy,”
Shift from China
As global MNCs look towards cutting down on China’s dependence in present situations, India has emerged as an attractive investment and tech hub replacement. Many companies have supported reliance on Jio in the wake of the same.
Valued Qualcomm-Reliance association
Anil Ambani, the owner of Reliance Jio, said that Qualcomm had been a valued partner for the company for several years. A similar vision of the companies bolsters this association. The companies look forward to facilitating secure and efficient wireless and digital network to Indian masses.