Business News

Karachi November 1 2021: Xiaomi, the global consumer electronics and smart phone giant, has joined hands with Select Technologies (Pvt) Limited (SELECT), a wholly owned subsidiary of Air Link Communication Limited (AIRLINK) as its manufacturing partner for Xiaomi mobile phones in Pakistan. The Stock gain PKR 3.47 or 5.51 percent in today’s trading session after the announcement. Air Link is targeting a production of initially around 2.5 to 3.0 million handsets annually subject to smooth supply chain which is expected to add approximately USD 450 million annually in top line revenue numbers and will have a material incremental impact on the EPS of the company other than the normal course of business. The production facility will be located adjacent to the AIRLINK’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. SELECT will be the manufacturing partner whereas AIRLINK will continue to be one of the largest distributors of Xiaomi phones in Pakistan. Courtesy the manufacturing of Xiaomi phones by SELECT, AIRLINK expects to substantially increase its distribution and retail business of Xiaomi phones in Pakistan.