San Diego-based Qualcomm, a leading innovator in wireless products, solutions, and technologies, has partnered with Reliance Jio to develop a 5G smartphone priced below $99 (approximately Rs 8,000). The collaboration was announced by Qualcomm’s senior vice president and general manager of handsets, Chris Patrick, at the World Mobile Congress in Barcelona. The smartphone is expected to be launched by the end of this year. Qualcomm had previously invested Rs 730 crore in Jio Platforms in 2020, acquiring a 0.15% equity stake.
In other news, Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs, will be the guest at the Express Adda in Bengaluru. She will be in conversation with Anant Goenka, Executive Director of The Indian Express Group, and P Vaidyanathan Iyer, National Executive Editor of The Indian Express.
Jaiprakash Associates’ lenders are preparing to take the debt-laden company to the National Company Law Tribunal after failing to secure a satisfactory valuation for its stressed assets from the National Asset Reconstruction Company of India. JAL owes nearly Rs 29,000 crore to 32 banks.
Despite the Reserve Bank of India’s action on Paytm’s payments bank unit, a survey conducted by Datum Intelligence revealed that around 59% of merchants continue to use Paytm and do not foresee any immediate impact. The survey also showed that 13% of merchants are switching to other payment applications, while 21% are waiting for more information.
Boeing has increased its sourcing of components and services from India to $1.25 billion per year as part of its commitment to ‘Make in India.’ The company has a network of over 300 local supplier partners.
State Bank of India (SBI) is unlikely to raise nearly Rs 11,900 crore through additional tier-I bonds in the current fiscal due to pricing issues.
GIFT Nifty indicates a subdued opening for the BSE Sensex and NSE Nifty 50 on Wednesday.
