KARACHI: Bloomberg has said that Pakistan’s Air Link Communication Ltd. would begin assembling and selling Xiaomi televisions in Pakistan in January 2024.
According to Air Link Chief Executive Officer (CEO) Muzzaffar Hayat Piracha, the two businesses partnered two years ago to sell mobile phones in Pakistan don’t anticipate the need for significant investments because the assembly lines for the two products are pretty similar.
According to Bloomberg, the International Monetary Fund agreed to a deal with Pakistan, increasing its foreign exchange reserves by double to $8 billion. Businesses like Air Link welcomed this international lender’s demand to remove all import restrictions.
In the previous six months, the company went from breaking even to becoming profitable, Piracha continued. When it began trading in 2021, Air Link, which started 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. The company became one of the most prominent phone distributors in the nation and is currently attempting to diversify by teaming up to make an offer to buy Shell Plc’s local subsidiary.
