- Reliance Jio, India’s leading telecom operator, is finalising an approx. $1.7 billion contract for Nokia’s 5G equipment, building on a previous $2.1 billion investment in Ericsson.
- Investments in Nokia and Ericsson are part of a wider strategy to launch 5G services across India by the end of 2023, backed by financing from global banks like HSBC, JP Morgan, and Citigroup.
- Jio plans a standalone 5G rollout, partnering primarily with European vendors, and aims for a total $25 billion 5G investment over the next four years.
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