Pakistan’s Air Link Communication Ltd. would begin producing and selling Xiaomi televisions in January 2024, Bloomberg has reported.
The two businesses formed a partnership two years ago to sell mobile phones in Pakistan.
According to Air Link Chief Executive Officer (CEO) Muzzaffar Hayat Piracha, they don’t anticipate the need for significant investment because the assembly lines for the two products are quite similar.
According to Bloomberg, Pakistan’s fortunes changed after it reached an agreement with the IMF that increased its foreign exchange reserves by double, to $8 billion.
Global lender included lifting all import restrictions as one of its objectives; this was good news for businesses like Air Link.
In the previous six months, the firm went from breaking even to becoming profitable, Piracha noted.
When it began trading in 2021, Air Link, which started out as a distributor of mobile phones a little over ten years ago, became Pakistan’s largest private sector IPO, according to Piracha. He also stated that the company aimed to increase its current monthly production of mobile phones, which was 300,000, to about 500,000 by the end of the year.
As one of the top phone distributors in the nation, the firm is now aiming to diversify by making a joint offer to buy Shell’s local subsidiary.