China-based smartphone maker Xiaomi plans to manufacture phones in Pakistan in association with its local partner Air Link Communication.
The production facility will be located adjacent to Air Link’s existing mobile manufacturing facility at the Quaid-e-Azam Industrial Estate, Kot Lakhpat Lahore. The smartphone production facility is expected to be operational within January 2022.
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.
Air Link said in a stock exchange notice said the manufacturing of these smartphones will contribute $450 million annually to revenue.
Xiaomi is the third largest smartphone brand in the world during the third quarter of 2021. Xiaomi has shipped 44 million units of smartphones grabbing 14 percent share in Q3, according to research report from Canalys.