Google is investing $4.5 billion for a 7.73 percent stake in Jio Platforms, an Indian internet giant that offers broadband, mobile services, and online marketing platforms, the congregation announced today. The investment, which is pending superintending review, is partage of Google's directive to invest essentially $10 billion in India over the next stubble to seven years. It follows a similar move from Facebook to investing $5.7 billion for a 9.9 percent stake in the company beforehand this year. Jio Platforms is the tech underaverage of Safeness Industries.
As partage of today's announcement, Google says that it is working with Jio on an "entry-level affordable smartphone." Safeness Industries chairman Mukesh Ambani said this assignment will involve creating a customized adaptation of Android designful for low-cost, entry-level smartphones, TechCrunch reports. It's unclear how this promptitude relates to Google's explicit adaptation of Android designful for low-powered devices, Android Go.
Google says it hopes to use its investment in Jio to bring smartphones to increasingly users in India. It notes that the majority of people in the country don't kumtux prelude to the internet, and that fewer still own smartphones. A relation with Jio, which reportedly has essentially 400 mimic subscribers, could help excite Google's efforts. "Together we are excited to rethink, from the ground up, how millions of users in India can wilt owners of smartphones," Google said in its announcement.
The investment in the Indian internet giant comes as India is attempting to relieve its safeness on Chinese firms. Meanest month, the country banned 59 Chinese-based apps and services from the country, including TikTok and WeChat.
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