Mukesh Ambani announces the launch of Jio Smartphones in the AGM

Reliance is entering the ‘budget smartphone’ market as well

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Over the last few weeks, Reliance has made big waves with its expansion projects in the Indian retail sector.
The conglomerate has kicked things up a further notch by announcing that they will be entering the ‘budget smartphone’ market as well.
The company is looking to outsource the production of 10 Crore smartphones that will be launched in December 2020.
Google, which is one of Reliance Industries’ strategic Investors had announced in July that they will be investing 4.5 billion USD in Reliance.
This announcement was made by Reliance Industries Chairman, Mr Mukesh Ambani at the company’s AGM. In the same meeting, he also announced that the company is developing a complete 5G solution as well. He said, “Jio has created a complete 5G solution from scratch, that will enable us to launch a world-class 5G service in India, using 100 per cent homegrown technologies and solutions.”