SUMMARY
OnePlus said the hub will serve as a space developing new technologies in the 5G space and test new features
Jio said that its users will experience enhanced 5G gaming and streaming experience over the next few months
Jio Platforms saw its net profit jump over 11% YoY to INR 5,445 Cr in Q3 FY24, while revenue from operations also jumped 11% YoY to INR 27,697 Cr
Telecom giant Reliance Jio on Thursday (January 25) announced a strategic partnership with smartphone maker OnePlus to set up a 5G Innovation Lab.
In a statement, OnePlus said that the hub will serve as a space developing new technologies in the 5G space. The company further said that the collaboration will enable it to test new features and fasten the implementation of services for end-users.
Commenting on the development, a OnePlus spokesperson said, “… This partnership signifies a bold step towards the future of connectivity, where innovation knows no bounds. Together, Jio and OnePlus India are set to redefine the 5G landscape in the country, providing users with a glimpse into the limitless possibilities that lie ahead.”
“… It is time to unfold magical 5G experiences for our users and this partnership with OnePlus is a step in that direction. Over the next few months, our users will experience superlative and enhanced gaming, streaming and better usage experience of 5G,” said a Jio spokesperson.
The new partnership comes a month after the telecom major signed a partnership with TM Forum to establish an Innovation Hub in Mumbai. The company then said that the centre would focus on scaling up the development of GenAI, large language models (LLMs) and open digital architecture (ODA).
Afterwards, Reliance Jio Infocomm chairman Akash Ambani even said that the company was working with Indian Institute of Technology (IIT)-Bombay to launch a ‘Bharat GPT’ programme, without offering any further details.
The partnership with OnePlus will likely enable the company to integrate and better test hardware with software. Not just this, it will also enable the telco to leverage synergies with the Chinese smartphone maker to roll out allied experiences as 5G rollout gathers pace.
Jio also claimed that it accounts for 85% of the entire 5G deployment in the country. Not just 5G, the company has also focussed its energies on the feature market. The company recently said that its JioBharat Phone commanded a market share of nearly 45% in the sub-INR 1,000 price segment.
Banking on this multi-pronged approach, the digital juggernaut has been raking in healthy numbers. Jio Platforms saw its net profit jump more than 11% year-on-year (YoY) to INR 5,445 Cr in Q3 FY24, while revenue from operations jumped at a similar rate to INR 27,697 Cr in the quarter ended December 2023.
As a result, the company continues to get positive comments from brokerages. Recently, BofA reportedly pegged the valuation of Reliance’s digital arm at $107 Bn.
