- Reliance Industries aims to launch its budget 4G smartphone, jointly developed by the Indian group's Jio telecoms venture and Alphabet Inc's GOOG GOOGL Google during the Indian festive season of Diwali for ₹6,499 ($87).
- The smartphone will cost ₹1,999 upfront with installment facilities for the remaining.
- The smartphone comes with a tweaked Android operating system named 'Pragati,' which means progress in Hindi. It targets first-time smartphone buyers with features like quick translations in 10 Indian languages and a voice assistant.
- The smartphone poses a risk for Xiaomi Corp XIACF XIACY and BBK Electronics, owned Realme, Oppo, and Vivo brands dominating the $2 billion market for sub-$100 smartphones in India, Reuters reports.
- Jio also aims to use the phone to win 2G users from Vodafone Group PLC VOD and Bharti Airtel.
- Price Action: GOOG shares traded higher by 0.93% at $2,949.87 on the last check Friday.
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