A material disclosure statement presented at the Pakistan Stock Exchange has indicated that Chinese tech powerhouse Xiaomi will begin production of smartphones in Pakistan from January 2022. Xiaomi is targeting the manufacture of up to 3 million smartphones annually in its Pakistan production facility. Expected revenue from Xiaomi’s Pakistan operations is in the region of $450 million.
The key details were filed this week to the Pakistan Stock Exchange by Xiaomi’s local partner, Air Link Communication Limited. The production arrangement is between Xiaomi and Select Technologies (Pvt) Limited, a subsidiary of Air Link Communication Limited. Select Technologies will serve as the manufacturing partner for Xiaomi in Pakistan, with a focus on the production of mobile phones. Select Technologies will be tasked with the manufacture of mobile devices of certain brands. It is possible that Xiaomi may not ultimately be the only brand that will be manufactured by Select Technologies.
The parent company, Air Link Communication Limited, says that the new investment that aims at an annual production target of between 2.5 million to 3 million units will have a material incremental impact on the financial outlook of the company. Revenue projection for the new manufacturing of Xiaomi smartphones is projected at $450 million annually. The production facility is sited close to Air Link’s mobile phone manufacturing complex in Lahore. Air Link will continue to hold a large chunk of the...
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