{"id":124000,"date":"2021-06-24T12:28:36","date_gmt":"2021-06-24T16:28:36","guid":{"rendered":"https:\/\/44.250.171.167\/?p=124000"},"modified":"2022-10-04T06:25:08","modified_gmt":"2022-10-04T10:25:08","slug":"new-energy-jiophone-next-grab-limelight-at-reliance-agm-retail-to-grow-3x-in-3-5-yrs","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/new-energy-jiophone-next-grab-limelight-at-reliance-agm-retail-to-grow-3x-in-3-5-yrs\/","title":{"rendered":"New energy, JioPhone Next grab limelight at Reliance AGM; Retail to grow 3X in 3-5 yrs"},"content":{"rendered":"

It was the second year of virtual Annual General Meeting (AGM) for Reliance Industries (NSE: RELIANCE<\/a>), but the lack of live audience hardly took the sheen away from the event. Interestingly, CEO Mukesh Ambani took the longest duration to address its new energy mission, outlining the firm\u2019s roadmap to become net carbon zero by 2035.<\/p>\n

The event also witnessed the launch of the much-anticipated JioPhone Next 4G smartphone, developed jointly with Google. While the CEO refrained from giving out the actual cost of this device, he mentioned that it will be \u201cthe most affordable smartphone globally.\u201d The device is set to hit markets by September 10 this year.<\/p>\n

Meanwhile, shares of the multinational industrial conglomerate fell 2.6% for the day, as the company did not announce a bonus share or budget laptop as some analysts had predicted. Neither were there any updates provided on the troubled deal with Future Group.<\/p>\n

\"Reliance<\/a><\/figure>\n

JioPhone Next and 5G<\/strong><\/h2>\n

Reliance didn\u2019t disappoint with its affordable smartphone, a promise that Ambani made during the previous AGM. JioPhone Next will come with an optimized version of Android, and boasts of features including voice assistant, language translation, smart camera with augmented reality filters, automatic read aloud of screen text etc.<\/p>\n

Bundled packages are likely to come along with the smartphone, which should considerably lift the number of Jio users in the coming quarters. Jio already has monthly traffic of over 630 crore gigabites and is claimed to be the first operator outside China to cross 400 million subscribers in a single country.<\/p>\n

Jio\u2019s future growth will also be spurred by an investment of over Rs 57,000 crore on the purchase of additional spectrum and another Rs 15,000 crore on network infrastructure. The management believes these investments have the capacity to onboard 200 million more customers to Jio network.<\/p>\n

During the event that saw a surprise virtual participation by Google CEO Sundar Pichai, Ambani outlined the firm\u2019s partnership with the global tech giant outside the smartphone space. As part of the collaboration, Reliance is set to shift all of its core retail business to Google Cloud infrastructure, which will enable it to take advantage of its AI and machine learning capabilities to drive e-commerce.<\/p>\n

Apart from this, Reliance will leverage Google\u2019s cloud capabilities to power Jio\u2019s 5G solutions. According to the CEO, Jio has tested 5G solutions and demonstrated speeds higher than 1 GB per second, expressing his confidence that Jio will be the first to roll-out the technology in India. Meanwhile, he did not give an estimated timeline for the same.<\/p>\n

ALSO READ<\/strong>\u00a0As the company\u2019s CEO, I am right now running three different strategies- regain, reinvent, and recreate: Sundeep Sikka<\/a><\/em><\/p><\/blockquote>\n

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