To create an affordable yet powerful smartphone ecosystem for the masses in the country, Reliance Jio and Google on Wednesday announced to launch an entry-level Android smartphone soon.
“I am excited that our joint collaboration will focus on increasing access for hundreds of millions of Indians who don’t currently own a smartphone while improving the mobile experience for all,” said Alphabet and Google CEO Sundar Pichai. “Together, we are excited to rethink, from the ground up, how millions of users in India can become owners of smartphones,” he added.
Reliance Jio launched a feature phone called JioPhone in 2017 that currently has an installed base of 20 per cent among the country’s feature phone users.
“Google has empowered millions of Indians to access helpful information and, like Jio, is a force for change and innovation. Together, we hope to play a strong facilitative role in the transformative journey of building a new, Digital India,” said Mukesh Ambani, chairman and managing director of Reliance Industries.
In a mega investment announcement, Google announced to invest Rs 33,737 crore ($4.5 billion) in Jio Platforms for an equity stake of 7.73 per cent. This is the first investment from the $10 billion “Google For India Digitisation Fund” announced earlier this week, which aims to accelerate India’s digital economy over the next five to seven years through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments.
This partnership aims to target the entry-level smartphone segment (less that Rs 10,000) which sells anywhere close to 60 million smartphones annually in India.