According to source, Air Link Communication Limited (PSX: AIRLINK) is considering local assembly of Xiaomi Corp. televisions for sale in Pakistan beginning in January 2024.
Air Link’s Project
According to Air Link CEO Muzzaffar Hayat Piracha, the company and Xiaomi do not intend to spend extra money on this project because the assembly lines for smartphones, which already exist in Pakistan, and those for televisions are relatively similar.
Air Link, according to Piracha, has become profitable in the last six months. He added that the company’s goal is to increase mobile phone production to around 500,000 per month by the end of the year, up from 300,000 currently.
Air Link, which began as a mobile phone reseller just over ten years ago, became Pakistan’s largest private sector IPO when it was listed on the PSX in 2021. It has since grown to become one of the largest smartphone distributors in the country.
Since the International Monetary Fund agreed to a new bailout program to revive the economy, Pakistan has seen a slight increase in the revival of business operations by foreign enterprises.
The IMF has demanded that the country remove all import restrictions, which has piqued the interest of distributors such as Air Link.
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