Pakistan's Local Partner for Xiaomi Will Start Selling TVs
Air Link's ambitions don't stop at telecommunications; the company is exploring diversification by participating in a joint bid to acquire Shell's local business, further solidifying its expanding presence across various sectors.
Karobar
According to Bloomberg, Pakistan's Air Link Communication Ltd. would start making and selling Xiaomi televisions in January 2024.
To sell mobile phones in Pakistan, the two companies partnered two years ago. The production lines for the two items are relatively comparable, according to Air Link Chief Executive Officer (CEO) Muzzaffar Hayat Piracha, therefore they don't expect to need a major investment.
Bloomberg claims that Pakistan's fortunes improved as a result of an arrangement it negotiated with the IMF, which doubled its foreign exchange holdings to $8 billion.
One of the goals of the Global Lender was to remove all import restrictions; this was good news for companies like Air Link.
According to Piracha, the company went from breaking even to turning a profit in the prior six months.
Tweet from Pakistan Bureau Chief
Air Link, which started out as a distributor of mobile phones a little over ten years ago, grew to become Pakistan's largest private sector IPO when it started trading in 2021, according to Piracha. Additionally, he said that by the end of the year, the company hoped to double its current monthly production of mobile phones, which was 300,000.
The company, which is among the biggest phone distributors in the country, is attempting to diversify by making a joint offer to purchase Shell's local business.
