Inside Financial Markets
Air Link subsidiary, Xiaomi in Deal - Inside Financial Markets

Air Link subsidiary, Xiaomi in Deal

Select Technologies (Pvt) Limited, a subsidiary of Air Link Communication Limited, is partnering with Chinese smartphone firm Xiaomi to manufacture handsets in Pakistan.

“Xiaomi, the global consumer electronics and smartphone giant, has joined hands with Select Technologies (Pvt) Limited, a wholly-owned subsidiary of Air Link Communication Limited (AIRLINK) as its manufacturing partner for Xiaomi mobile phones in Pakistan,” the company said in a bourse filing on Monday.

The company said it was targeting production of initially around 2.5 to 3 million handsets annually ‘subject to smooth supply chain’. The company expects this partnership to add approximately $450 million annually in top-line revenue numbers. “[It] will have a material incremental impact on the EPS of the company other than the normal course of business,” the company said.

The production facility will be located adjacent to the Air Link’s existing state-of-the-art mobile manufacturing facility at Quaid-e-Azam Industrial Estate, Kot Lakhpat Lahore. The production facility is anticipated to be operational within the month of January 2022.

Syed Zaki Hussain

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)