Air Link Communication Limited (PSX: AIRLINK) is eying local assembly of Xiaomi Corp. televisions from January 2024 onwards for sale in the Pakistan market, reported Bloomberg.
Air Link CEO Muzzaffar Hayat Piracha told Bloomberg that Air Link and Xiaomi are not planning on splashing extra cash on this project since the assembly lines for smartphones – which already exist in Pakistan – and those for televisions are relatively similar.
Piracha said that Air Link has become profitable in the past six months. The company aims to raise mobile phone production to around 500,000 per month by the end of the year, up from 300,000 currently, he added.
Air Link, which began operations as a mobile phone reseller just over 10 years ago, became Pakistan’s largest private sector public offering when it was listed at PSX in 2021. It has since become one of the country’s largest smartphone distributors.
Pakistan has recently seen a slight uptick in the revival of business operations by foreign enterprises ever since the International Monetary Fund agreed to a new bailout program to revive the economy. The IMF demanded that the country remove all import restrictions, which has appealed to distributors like Air Link.
