Education
Google is invested in Jio, an Indian internet giant, and is developing a new 'affordable' smartphone
Google is investing $4.5 billion for a 7.73 per cent stake in Jio Platforms, an Indian Internet giant offering broadband, mobile services , and online business platforms, the company announced today. Investment, which is awaiting regulatory approval, is part of Google 's pledge to invest roughly $ 10 billion in India over the next five to seven years. It follows a similar move from Facebook to invest $5.7 billion at 9.9 per cent of the company earlier this year. Jio Projects is the strategic division of Reliance Industries.
As part of today's news, Google confirms it's partnering with Jio on a entry-level affordable smartphone.
Reliance Industries Chairman Mukesh Ambani said this work would include developing a personalized version of Android for low-cost, entry-level smartphones. It's not clear how this software applies to Google's latest version of Android built for low-powered smartphones, Android Go.
Google says it wants to make use of its investment in Jio to introduce smartphones to more consumers in India. It states that most people in the world do not have access to the Internet, and that fewer still own smartphones. A alliance with Jio, which is estimated to have about 400 million users, could further boost Google's efforts.
Together, we are eager to reinvent, from the ground up, how millions of consumers in India will become owners of smartphones, "Google said in its announcement. Investment in the Indian Internet giant comes as India tries to minimize its dependency on Chinese businesses. Last month, 59 Chinese-based apps and services, including TikTok and WeChat, were barred from the region.
