Google will collaborate with Airtel for make cheap smartphones, will invest $100 million
A new era and new partnership is about to begin in the digital history of India. India's telecom giant Airtel and Google, one of the world's top tech companies are preparing to change the direction and condition of the country's digital ecosystem. Google will invest $100 million (about Rs 7505 crore) through its 'Google for India' digitization fund. In this, Google will buy a stake in Bharti Airtel for $70 million (about Rs 5254 crore). After this, both the giant companies will jointly develop affordable smartphones and use 5G technology.
Google will buy 1.28 per cent stake in Bharti Airtel at Rs.734 per share. Apart from this, the remaining $30 million (about Rs 2251) will be invested in the form of commercial agreements for the next five years. This includes expanding Airtel's capabilities through innovative affordable programs aimed at promoting access and inclusion in India's digital ecosystem.
Sunil Bharti Mittal, Airtel's chairman said, "Airtel and Google share a common vision of growing India's digital ecosystem through innovative products. Thanks to our future-ready network, digital platform, end-to-end delivery reach and payments ecosystem, we look forward to working with Google to delve deeper into India's digital ecosystem."
Both Airtel and Google have agreed to work together and invest in digital solutions that meet India's needs. As part of this commercial agreement, Airtel and Google will also work together to develop Airtel's range of Android enabled devices to meet the needs of Indian consumers. Together, the two companies will work towards making affordable smartphones in the country in partnership with various device makers. Under this, smartphones will be made available to Indian consumers in all price ranges. Apart from this, both the companies will work together on 5G network according to the local situation of India. Also, the two companies together will promote the cloud ecosystem for business in the country.
Speaking on the occasion, Sundar Pichai, CEO of Google and alphabet said, "Airtel is a leader in shaping India's digital future and we are proud to partner with Airtel to bring internet connectivity to as many Indians as possible. Our commercial and equity investment in Airtel is in line with our Google for India Digitization Fund to increase smartphone access, support new business models and help companies in their digital transformation journey."
It is to be known that Airtel is a leader in the field of 5G technology in India and now it is working with tech companies like Intel, Cisco, Nokia, Qualcomm, Ericsson, TCS and Google to provide the latest technology to the consumers of India. Furthermore, Bharti Airtel, as the country's leading telecom company, is committed to providing the Indian consumers with the latest technology and Gadgets at affordable prices. This is the reason why Airtel has started testing 5G technology in India in collaboration with leading tech companies around the world.