Reliance industries has already crossed a market capitalization of over $150 Billion dollars in India and not showing any signs of stopping soon.
Recently, in their annual AGM Mr. Mukesh Ambani announced that they’ve received another huge investment of $4.5 billion dollars by none other than Google.
Surely, Reliance has big plans for Jio in the future, but the biggest takeaways from the announcement were developing home-grown 5G technology, Jio Glass and developing an entry level smartphones for 350 million feature phone users in India.
One more valuable information given by Mr. Mukesh Ambani on the AGM is completely ditching the Kai OS and both Jio and Google will jointly develop a new OS. It is also speculated that the new smartphone can be a new member of Jio phone family.
Talking about Jio phone series, the first Jio phone priced at 1500 Rs was a sleeper hit and created havoc among the traditional feature phone users in India, but the second Jio phone with a qwerty keypad was a sheer disappointment. It didn’t do anything new to excite the customers.
No one can predict anything about the new smartphone technology brought by Jio and Google, but one thing is sure that Mr. Mukesh Ambani has impressed and surprised the entire world by his aggressive fund raising and his unbelievable business acumen.