KARACHI: Air Link Communication Ltd on Monday said that Xiaomi, which is a global electronics and smartphone brand, will work with one of its wholly owned subsidiaries as its manufacturing partner for Xiaomi mobile phones in Pakistan.
In a regulatory filing on the Pakistan Stock Exchange, the company said it’s initially targeting a production of around 2.5 million to 3 million handsets annually, subject to a smooth supply chain. It’s likely to add approximately $450 million annually to the top line and will have a material incremental impact on the earnings per share of the company other than the normal course of business, it said.
The production facility will be located next to the company’s existing mobile manufacturing unit at Quaid-i-Azam Industrial Estate, Kot Lakhpat, Lahore. The company expects the production facility to become operational in January 2022.
Its subsidiary, Select Technologies Ltd, would be the manufacturing partner of the international brand while Air Link Communication Ltd would continue to be one of the distributors of Xiaomi phones in Pakistan, the statement added.
Meanwhile, Air Link Communication Ltd reported on Monday its net profit for the July-September quarter amounted to Rs419.8 million, up 50.1 per cent from a year ago. The company’s share price increased 4.6pc to Rs65.95 apiece.
Published in Dawn, November 2nd, 2021
