KARACHI: Pakistan’s Airlink Communications Ltd will begin assembling and selling Xiaomi televisions in the country from January 2024, JEE News reported on Tuesday.
Airlink Chief Executive Officer (CEO) Muzaffar Hayat Paracha told JEE News that the two companies, which partnered to sell mobile phones in Pakistan two years ago, do not expect assembly for either. After the lines will require huge investment. The products were quite similar.
According to JEE News, Pakistan experienced a fortune after securing an agreement with the International Monetary Fund that doubled its foreign exchange reserves to $8 billion.
In one of its demands, the global lender called for the nation to lift all restrictions on imports, a move that came as a relief to companies including Airlink.
Pracha added that the company has turned profitable even after breaking even in the last six months.
Airlink, which started as a mobile phone distributor a decade ago, will become Pakistan’s largest private sector initial public offering when it starts trading in 2021, Pracha added. The company is targeting to increase mobile phone production by approx. 500,000 per month by the end of the year which is currently 300,000 per month.
The company became one of the largest phone distributors in the country and is now looking to diversify by jointly bidding to acquire the local unit of Shell Plc.
