Wednesday, October 4, 2023

Xiaomi TVs to be Assembled in Pakistan from January

Pakistan’s Air Link Communication Ltd. is set to commence the assembly of Xiaomi televisions within the country in January 2024.

Air Link’s CEO, Muzzaffar Hayat Piracha, informed the US publication that the collaboration between the two companies, established two years ago for the distribution of mobile phones in Pakistan, foresees a seamless transition into television assembly without substantial investment. This is attributed to the shared assembly line characteristics of both television sets and mobile phones.

Pakistan’s changing circumstances caught the attention of Bloomberg, which highlighted that the nation’s foreign exchange reserves doubled to $8 billion following an agreement with the International Monetary Fund (IMF). One of the IMF’s stipulations was the removal of all import restrictions, an initiative that has been beneficial for companies like Air Link.

Piracha further stated that Air Link has transitioned from breaking even to becoming profitable over the past six months. Originating as a mobile phone distributor over a decade ago, Air Link emerged as the largest private sector initial public offering in Pakistan in 2021. Piracha also revealed the company’s ambition to elevate monthly mobile phone production from 300,000 units to around 500,000 by year’s end.

Expanding its horizons, Air Link, a major phone distributor in Pakistan, is exploring diversification through a joint bid to acquire Shell Plc’s local unit.

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