Pakistan’s Air Link Communication Ltd. to start assembling Xiaomi TVs.
According to Bloomberg, Air Link Communication Limited (PSX: AIRLINK) plans to assemble Xiaomi Corporation TVs locally starting in January 2024 and sell them on the Pakistani market.
Air Link Chief Executive Officer (CEO) Muzzaffar Hayat Piracha, since the assembly lines for both of the companies’ products were quite similar, significant investment is not anticipated to be needed to sell mobile phones in Pakistan as a result of their partnership, which was formed two years ago.
In a contract with the International Monetary Fund, Pakistan’s foreign exchange reserves increased by twofold to $8 billion, according to Bloomberg, which led to a shift in fortune.
The international lender demanded, among other things, that the country remove all import restrictions. This demand was welcomed by businesses like Air Link.
Piracha noted that over the previous six months, the business went from breaking even to becoming profitable.
When it began trading in 2021, Air Link, which began as a distributor of mobile phones a little over ten years ago, became Pakistan’s largest private sector initial public offering, according to Piracha. He also stated that the company aimed to increase its production of mobile phones from the current level of 300,000 per month to approximately 500,000 per month by the end of the year.
As one of the top phone distributors in the nation, the business is now attempting to diversify by teaming up with another party to make an offer to buy Shell Plc’s local subsidiary.
