Air Link Communication Limited, a Pakistani company, has announced that it will begin producing Xiaomi smartphones in Pakistan next month.
The Mobile Device Manufacturing Facility for the production of Xiaomi smartphones in Pakistan will be inaugurated on March 4, 2022 at Quaid-e-Azam Industrial Estate, Kot Lakhpat, Lahore, according to a notice to the Pakistan Stock Exchange (PSX).
According to Air Link, the project will bring in $550 million in annual income and create manufacturing jobs in Pakistan.
Pakistan's Air Link Communication Limited has announced that it is all set to start production of Xiaomi smartphones in Pakistan from the next month.
— Developing Pakistan (@developingpak) March 1, 2022
Their target is to reach up to 550,000 units per month by 2023.🇵🇰 #PakistanRising pic.twitter.com/QaEBO3ObH6
According to Air Link, Xiaomi is a worldwide technology behemoth, with a Fortune Global 500 position of 334. “It eclipsed Apple as the world’s second-largest mobile phone manufacturer in Q2-2021, and it is now number one in Europe and a number of other important areas, including India.”
“In 2021, the Chinese smartphone manufacturer shipped a record 190.4 million smartphones.
“It’s a historic event for our country because Xiaomi, one of the world’s top smartphone firms, is launching production in Pakistan by collaborating with Select Technologies (Pvt) Limited (AIRLINK’s wholly-owned subsidiary),” the statement stated.
Last year, Select Technologies (Pvt) Limited was formed to produce ‘selected brands’ of mobile devices.
“This manufacturing facility is a step ahead in the direction of the Prime Minister’s objective of ‘Make in Pakistan,’ and it will have a significant impact on Pakistan’s economy, resulting in the export of locally built Xiaomi mobile phones,” Air Link noted.
In August of last year, Air Link announced its Initial Public Offering (IPO), which was 1.6 times oversubscribed.
According to the organization, Ismail Iqbal Securities was one of Pakistan’s largest mobile phone wholesalers at the time of the IPO, with a market share of roughly 20% in imported mobile phones.
In April, Air Link began producing mobile phones in Pakistan, with a monthly capacity of 400,000 devices, which is planned to increase to 550,000 by FY23.
Foreign companies have started to enter Pakistan’s smartphone industry in recent years, with companies such as Realme and Samsung, among others, expressing interest in integrating with the country’s young population.
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