Pakistan’s Air Link Communication Ltd. will commence assembling Xiaomi televisions in the country starting January 2024 and initiate sales, as reported by Bloomberg.
CEO Muzzaffar Hayat Piracha stated that due to the similarity in assembly lines for both products, significant additional investment is not anticipated. This collaboration between the two companies originated two years ago to market mobile phones in Pakistan.
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Following a deal with the International Monetary Fund that bolstered Pakistan’s foreign exchange reserves to $8 billion, Pakistan’s fortunes have taken a positive turn.
The IMF’s requirement to eliminate import restrictions has benefited companies like Air Link. The company has progressed from breaking even to profitability over the last six months, according to Piracha.
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Air Link, which initially operated as a mobile phone distributor just over a decade ago, achieved Pakistan’s largest private sector initial public offering in 2021. Piracha aims to escalate mobile phone production to approximately 500,000 per month by year-end, up from the current 300,000. Having become a major phone distributor in the nation, Air Link is now diversifying by jointly pursuing the acquisition of Shell Plc’s local unit.
