Reliance Industries (RIL) on Tuesday (20 October) informed that Reliance Jio will develop 5G solution in collaboration with Qualcomm Technologies.
Qualcomm Technologies, Inc. and Jio Platforms (Jio) along with its wholly owned subsidiary Radisys Corporation on Tuesday (20 October) announced their expanded efforts to develop open and interoperable interface compliant architecture based 5G solutions with a virtualized radio access network (RAN). This work is intended to fast track the development and roll out of indigenous 5G network infrastructure and services in India.Qualcomm Technologies and Jio also announced that they achieved over a 1 gbps milestone on the Jio 5G NR solution, leveraging the Qualcomm 5G RAN platforms. This achievement not only supports Jio's 5G credentials but also signifies the entry of Jio and India into the Gigabit 5G NR product portfolio.
"With 5G technology, users will experience the benefits of higher data rates, low latency communications and enhanced digital experiences across a wide array of connected devices, from 5G-enabled smartphones to enterprise laptops to AR/VR products to vertical IOT solutions," RIL said in a statement.
Qualcomm is the world's leading wireless technology innovator and the driving force behind the development, launch, and expansion of 5G.
Jio Platforms, a majority-owned subsidiary of RIL, has built a world-class all-IP data strong future proof network with latest 4G LTE technology (through its wholly owned subsidiary, Reliance Jio Infocomm). It is the only network conceived and born as a Mobile Video Network from the ground up and supporting Voice over LTE technology. It is future ready andcan be easily upgraded to support even more data, as technologies advance on to 5G, 6G and beyond.
Shares of RIL were up 0.3% higher at Rs 2162 on BSE.
In July this year, Qualcomm Ventures committed to invest upto Rs 730 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Qualcomm Ventures' investment will translate into 0.15% equity stake in Jio Platforms on a fully diluted basis.
RIL is India's largest private sector company. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services.
On a consolidated basis, RIL reported a 31% jump in net profit to Rs 13,248 crore in Q1 June 2020 compared with Rs 10,141 crore in the corresponding period of last year. Total income for the quarter stood at Rs 95,626 crore, down 42.11% compared with Rs 165,199 crore year-on-year.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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