Chinese smartphones maker Xiaomi plans to manufacture phones in Pakistan, its local partner, Air Link Communication Limited, revealed in a material disclosure statement filed in the Pakistan Stock Exchange, as reported by Geo News

“Xiaomi, the global consumer electronics & smartphone giant, has joined hands with Select Technologies (Pvt) Limited, a wholly-owned subsidiary of Air Link Communication Limited, as its manufacturing partner for Xiaomi mobile phones in Pakistan,” reads the statement.

Last month, Air Link had announced that it will incorporate a wholly-owned subsidiary “Select Technologies (Pvt) Limited”.

“The primary objective of this wholly-owned subsidiary would be to take on additional mobile device manufacturing of certain selected brand(s),” Air Link had stated.

Buy Me a Coffee

Air Link said that it is initially targeting the production of an estimated 2.5-3 million handsets annually, which “will have a material incremental impact on the earnings per share of the company other than the normal course of business”.

The manufacturing of these smartphones will approximately contribute $450 million annually to revenue, the company projects.

“The production facility will be located adjacent to Air Link’s existing state-of-the-art mobile manufacturing facility at the Quaid-e-Azam Industrial Estate, Kot Lakhpat Lahore,” read the statement.

The production facility is expected to be operational within January 2022.

READ
Instagram Now Lets You Schedule DMs: Here’s How It Works