Google invests in Indian web large Jio and plans new ‘inexpensive’ smartphone

Illustration: Alex Castro / The Verge

Google is investing $4.5 billion for a 7.73 p.c stake in Jio Platforms, an Indian web large that gives broadband, cellular companies, and on-line commerce platforms, the corporate introduced at the moment. The funding, which is pending regulatory overview, is a part of Google’s dedication to speculate round $10 billion in India over the following 5 to seven years. It follows an analogous transfer from Fb to speculate $5.7 billion for a 9.9 p.c stake within the firm earlier this 12 months. Jio Platforms is the tech subsidiary of Reliance Industries.

As a part of at the moment’s announcement, Google says that it’s working with Jio on an “entry-level inexpensive smartphone.” Reliance Industries chairman Mukesh Ambani stated this work will contain making a personalized…

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