Day: July 12, 2020

Reliance’s digital unit wins Qualcomm backing in boost to 5G plans

FILE PHOTO: Commuters are reflected on an advertisement of Reliance Industries’ Jio telecoms unit, at a bus stop in Mumbai, India, February 21, 2017. REUTERS/Shailesh Andrade/File Photo

NEW DELHI (Reuters) – India’s Reliance Industries said on Sunday Qualcomm Inc’s investment arm will buy a 0.15% stake in its digital unit Jio Platforms for 7.3 billion rupees ($97.1 million).

The partnership will help Jio Platforms, the unit that houses Reliance’s telecoms venture Jio Infocomm, to “roll out advanced 5G infrastructure and services for Indian customers”, Reliance said in a statement.

Qualcomm’s move comes at a time India is preparing to auction 5G airwaves to telecoms service providers.

With this new investment, Reliance has sold a 25.2% stake in Jio Platforms to investors in a funding spree that began late April, raising $15.69 billion.

Although Jio Platforms also comprises Reliance’s music and movie apps, Jio Infocomm – the mobile carrier – is

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Tesla slashes Model Y SUV price as pandemic weighs on auto sector

FILE PHOTO: The Tesla logo is seen on a car in Los Angeles, California, U.S., July 9, 2020. REUTERS/Lucy Nicholson

(Reuters) – Tesla Inc (TSLA.O) cut the price of its sport utility vehicle Model Y by $3,000, just four months after its launch, as the U.S. electric carmaker seeks to maintain sales momentum in the COVID-19 pandemic.

The reduction follows price cuts in May on Tesla’s Model 3, Model X and Model S.

The company headed by Elon Musk this month posted a smaller-than-expected fall in car deliveries in the second quarter, resilient results despite the pandemic that hit the global auto industry.

The Model Y now starts at $49,990, down nearly 6% from its previous price of $52,990, according to the carmaker’s website.

Tesla did not immediately respond to a Reuters request for comment.

The company started deliveries of the Model Y in March, promising a much-awaited

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Huawei to request UK to delay 5G network removal – The Times

FILE PHOTO: A smartphone with the Huawei and 5G network logo is seen on a PC motherboard in this illustration picture taken January 29, 2020. REUTERS/Dado Ruvic/Illustration

(Reuters) – China’s Huawei Technologies has requested a meeting with UK Prime Minister Boris Johnson to work out a deal to delay its potential removal from the country’s 5G phone network, the Sunday Times newspaper reported on Sunday.

The Chinese telecoms equipment maker is seeking to delay its removal from the from the country’s 5G telecoms networks until after elections in June 2025, in the expectation that the new government may reverse the decision, the newspaper reported. bit.ly/3iTYDRi

Huawei will in return pledge to maintain its equipment in the UK, which is also used in the 2G, 3G and 4G networks, the report added.

Britain granted Huawei a limited role in its future 5G networks in January, but ministers have since said the

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