Reliance AGM 2020 highlights: Google investment, homegrown 5G and lots more
Reliance RIL AGM 2020 highlights: Reliance's AGM witnessed some major announcements including a partnership with Google, Mixed Reality glasses and more.
Reliance Industries held its 43rd Annual General Meeting today. The company made some major announcements and developments on different products.
Reliance chairman Mukesh Ambani announced a new investment in Jio Platforms from Google. Jio and Google will also work on an entry-level phone for Indian users. Jio Glass, a Mixed Reality-based smart glasses was also unveiled at the event.
Here are the highlights from the Reliance AGM.
Net carbon-zero by 2035
Reliance aims to become net carbon-zero by 2035.
JioMart grocery platform
Jio is currently piloting the beta version of JioMart Grocery in 200 cities. 250,000 orders a day. JioMart will expand to electronics, pharmaceutical, and fashion in the near future.
Google and Jio are partnering to build an Android-based smartphone operating system. “We can build an entry-level 4G or 5G smartphone for a fraction of current cost,” Ambani said. An entry-level smartphone with optimisations for Indian users will be made by the two companies. Google CEO Sundar Pichai also shared a message on the company's partnership with Jio.
Ambani talks about Facebook's investment in Jio Platforms. Facebook invested ₹43,573.63 crore to acquire a 9.99% stake in Jio Platforms. Jio to work with Facebook's WhatsApp for its e-commerce platform JioMart.
Jio Mart for customers
Jio Mart will give customers a complimentary Covid kit of mask and hand sanitiser on the first order.
Jio Mart focuses on three aspects - customers, kirana and producers. It will also build on the widespread presence of Reliance Retail. JioMart aims to upgrade kirana stores and transform them in 24 hours.
Jio Glass comes with a cable that you can connect with your smartphone. It offers Mixed Reality content, and over 25 applications. Jio Glass can be used for 3D meetings and video calls. Users can also share presentations in a virtual screen with the Jio Glass.
Jio TV+ launched
Isha, Kiran and Akash Ambani take the virtual stage to announce new product developments. Jio TV+ launched as a curated platform for content from all popular OTT platforms. It will also work with voice search that works across genres and different services.
Ambani talks about Jio Platforms which will be a 100% owned intellectual property, total solutions approach and cater to a global audience as well.
Jio 5G ready
Ambani announced Jio has completed 5G from scratch. It will start 5G trials once the spectrum is available.
Jio's digital services
Jio Fiber broadband service has powered over a million homes in India, Ambani said. Over half a billion customers, over a billion smart sensors, over 50 million homes and businesses.
Ambani announces its next strategic partner Google in Jio Platforms. Google will invest ₹33,737 crore for a 7.7% stake in Jio Platforms.
Investments in Jio Platforms
Ambani talks about the recent investments in Jio Platforms from companies like Facebook, Silver Lake, Intel and Qualcomm. Amabani said the company will work with these companies to develop new products for India and Indians.
India's largest rights issue
Reliance achieved the world's largest rights issue in a decade by a non-financial institution. 53,124 crore
Mukesh Ambani talks about the launch of JioMeet which has been downloaded by more than 5 million users. India's first and only cloud-based video conferencing platform.
RIL AGM 2020 begins
Reliance Industries 43rd Annual General Meeting has kicked off. Reliance Industries head Mukesh Ambani has begun his speech as well.
RIL AGM 2020: New developments on Jio Fiber
Jio Fiber stole the show last year at the 42nd AGM. Jio launched its broadband fiber service with up to 1 Gbps data speeds. Jio Fiber also comes bundled with a 4K set-top-box, gaming, mixed reality and video calling. It's been almost a year since the launch of Jio Fiber, and we're expecting new developments on what the next step for Jio Fiber is.
RIL AGM 2020: JioPhone 3 expected
JioPhone 3 was highly expected to launch at last year's AGM but that didn't happen. There isn't much talk around the JioPhone 3 but it is rumoured to debut at the AGM today. JioPhone 3 will be the company's third smart feature phone and it could run Google-backed KaiOS and MediaTek chipset.
RIL AGM 2020: Jio Platforms investments
Reliance's digtal arm, Jio Platforms has so far received investments worth ₹118,318.45 crore in exchange of about 25.24% stake. The most recent investment came from chip-maker Qualcomm. Now Google is also reportedly in advanced talks to invest in Jio Platforms.
At the AGM, more details on what's next for Jio Platforms and specifically the role of these companies. Jio Platforms was launched as the umbrella for the company's digital services.
RIL AGM 2020: What to expect
Reliance Industries head Mukesh Ambani is expected to share details on the company's performance so far, and its various departments. The event also comes shortly after the long line of major investments in Jio Platforms, Reliance's digital umbrella. At the event, we could see some product launches as well and new developments on available services like Jio Fiber.
RIL AGM 2020: Livestream details
Reliance's Annual General Meeting is scheduled to start at 2:00 pm. The event will be live streamed on various platforms like Jio's YouTube and Facebook channels and there's a JioMeet link for the same as well. At the same time, updates on the AGM will be posted by The Flame of Truth on Twitter. Reliance has also launched a WhatsApp chatbot (+91-79771-11111) for updates on the event.