Jio Platforms -

Reliance to hive off and list Jio Financial Services • ZebethMedia

By zebethcontrolPosted on October 21, 2022Posted in Fintech, india, Jio Platforms, reliance, VentureNo Comments

Indian conglomerate Reliance will spin off and list its financial services, a move that it said will allow the oil-to-telecom giant to enter and expand into financial services such as consumer and merchant lending business. Reliance, run by billionaire Mukesh Ambani, said in a statement that it will be incubating (read: acquire) new firms in the new unit, which is called Jio Financial Services, to broaden its offerings to add insurance, payments, digital broking and asset management. “JFS will be a truly transformational, customer centric and digital-first financial services enterprise offering simple, affordable, innovative and intuitive financial services products to all Indians,” said Ambani in a statement late Friday. “JFS will be a technology-led business, delivering financial products digitally by leveraging the nation-wide omni-channel presence of Reliance’s consumer businesses. JFS is uniquely positioned to capture multiple growth opportunities in financial services bringing millions of Indians into formal financial institutions.” (More to follow)

Reliance launches JioBook, its maiden Android-powered laptop • ZebethMedia

By zebethcontrolPosted on October 20, 2022Posted in Android, Gadgets, Hardware, Jio Platforms, Qualcomm, relianceNo Comments

Jio Platforms has quietly launched its first laptop, entering into a new product category as the Indian telecom giant aggressively expands its offerings. The laptop, called JioBook, runs JioOS, a custom Android-based OS that has been “optimized for superior performance” and local languages support. The laptop, manufactured in India, is selling at 15,799 Indian rupees, or $190. The JioBook, which also ships bundled with several Jio apps and Microsoft 365 services, has been in the works for at least two years. The company quietly demonstrated it at Indian Mobile Congress trade show event last month. JioBook’s specifications, as you would have guessed, are not very high-end. It sports a 11.6-inch HD display with a screen resolution of 1366 x 768. It is powered by Qualcomm’s 64-bit, 2GHz octa-core processor and 2GB of RAM. But the laptop ships with an embedded Jio sim card, enabling out of the box support for Jio 4G LTE connectivity. The firm says on its store page that the JioBook features up to 128GB of flash storage and can last up to eight hours on a single a charge. The laptop is the latest of a series of businesses Reliance, the Indian conglomerate and the parent firm of Jio Platforms, has entered in recent years. The firm, led by billionaire Mukesh Ambani, entered the telecom business six years ago and quickly became the top service provider in the country, thanks to the network’s cutrate data and voice tariffs. Jio Platforms, which secured over $20 billion in funding from over 10 investors in 2020 including Meta and Google, has also launched feature phones and smartphones in the past half decade. The company’s JioPhone Next smartphone went on sale last year. Jio Platforms has worked closely with Google to develop a custom Android operating system for the smartphone. The company appears to have ambitious plans with the JioBook. Reuters, which scooped the laptop’s imminent unveiling plan earlier this month, said Reliance plans to sell “hundreds of thousands” of units by March. Jio did not immediately respond to a request for comment.