In a landmark development, the Chinese tech giant Xiaomi has announced that it will set up a local assembly unit in the country in three to four months, according to sources. The latest development will not only generate employment opportunities for the indigenous people but will also boost the local smartphone manufacturing space in the country. Furthermore, the local manufacturing of smartphones will also attract foreign direct investment (FDI) and ramp up a foreign exchange through exports.
Tech-giant Xiaomi to Set up Local Assembly Unit in Pakistan: Source
Basically, Xiaomi is following the footsteps of other major brands like Tecno, Infinix, Realme, etc. who have recently announced to open their local manufacturing unit in Pakistan. It will greatly benefit the company as Xiaomi is currently one of the most loved brands in Pakistan. It can be evident if we look at the sale of its recently launched devices like Mi 11, Note 10, etc. The primary reason behind its huge demand is that it renders quality, consumer-centric (gaming phones, camera phones, etc.), and affordable products.
Furthermore, as we know that Xiaomi deals in a range of accessories and IoT products. So if the company’s smartphone local assembly becomes a success story then the company will surely install other product manufacturing assemblies as well.
Currently, Pakistan is the 7th largest importer of mobile phones with a humungous market size of over 40 million users. Thus, consequently, local manufacturing will also save foreign exchange on mobile phone imports.