Reliance Industries shares rose nearly 2 per cent after its telecom subsidiary Reliance Jio announced, on Tuesday, that it had expanded efforts with Qualcomm Inc to develop 5G solutions in India. Reliance Jio and Qualcomm have achieved over a 1 Gbps (1,000 Mbps) speed on the Reliance Jio 5GNR solution and the Qualcomm 5G RAN Platform, Reliance Jio said in a press release. The shares of Reliance Industries gained as much as 1.6 per cent to touch an intra-day high of Rs 2,191 in early trading. At 12:00 pm, the shares were off their intra-day highs at Rs 2,161.15, up 0.6 per cent.
As of now, a handful of countries viz. USA, South Korea, Australia, Switzerland and Germany have achieved speeds of 1 GB per second for their 5G subscribers.
With 5G, users will experience higher data rates, low latency communications and enhanced digital experiences across a wide array of connected devices.
India is yet to auction airwaves for 5G, but Mukesh Ambani is already doing the groundwork for the launch of fifth-generation wireless services after the 5G auctions come through. At the RIL AGM 2020, Mr Ambani had made known his plans for a 100 per cent "homegrown 5G" network in India.
Reliance Jio is planning to introduce an inexpensive 5G smartphone that would eventually cost less than $40, according to reports.
The BSE Sensex was at 40,964.99, higher by 422.50 points or 1.04 per cent and the NSE Nifty was at 12,014, up 118.35 points or 1 per cent at the time.
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