- Qualcomm will back Reliance Jio to boost the 5G connectivity.
- The latest development happens at the time of 5G auction.
- Jio has won big money from different investors.
Jio the new member of the Indian telecom industry has a habit to make headlines on a regular basis, the company came into the industry with the massive setup. As the company offered free incoming as well as outgoing calls along with free data for three months and then expanded for a couple of months.
Having said that, the company also made headlines by getting investment from many popular brands including Facebook and now Reliance Jio has won yet another major investment and that will help the company to boost the next-generation 5G connectivity in the country.
Reliance has announced that the very popular mobile chipset maker Qualcomm has taken a stake in its Jio platform and that is about the 0.15% which will cost ₹730 crores and that means the telecom operator can able to use the money to boost the next-generation connectivity called the 5G and the new move is coming at the time of an auction for the 5G airwaves in the market of India.
With this development, the company has sold a 25.2% stake in Jio Platforms to investors in a funding spree and the same started late April, raising $15.69 billion.
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