RIL Shares: Many industries in India are troubled by the shortage of semiconductors and Reliance Industries (RIL) is also not bothered about it. Reliance Jio has delayed the launch of its ultra-low-cost smartphone, possibly due to semiconductor shortages. Due to this activity, the shares of Jio’s parent company Reliance Industries (RIL) fell by more than 2 percent on Monday.
Market heavyweight Reliance Industries (RIL) shares fell 2.25 per cent to Rs 2,370.85 on the BSE, which was Monday’s bottom level. Later the stock recovered slightly and is trading at Rs 2,377.25 with a fall of 1.99% in the afternoon. On NSE too, this stock had come down by 2.25% to Rs 2,371.
Jio in collaboration with Google is developing an ultra-low-cost smartphone, which has been delayed in launch and is likely to be launched by Diwali.
It is believed that the company has pushed back the launch of this phone, possibly due to the lack of semiconductors. JioPhone Next was to be launched on Friday (September 10) first.
Billionaire Mukesh Ambani had said at the Reliance Industries shareholder meeting in June that JioPhone Next would be available for purchase on September 10.
JioPhone Next has been designed in partnership with Google and is for those who want to upgrade from 2G to 4G connectivity. Although, the company has announced the new timeline, but did not reveal the price of the phone.
A Jio statement said that Reliance Jio and Google have made great strides towards the launch of the much-awaited JioPhone Next. JioPhone Next is the first of its kind device with an optimized operating system based on Android and Play Store.
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