In recent news, Samsung is talking to many investors. It is about establishing a local assembly plant for the smartphone products in Pakistan of Samsung. One of the investors in South Korea is currently building an assembly unit under Automobile Development Policy in Pakistan from 2016 to 2021. Information about other parties is not yet disclosed. According to a source of Jioforme: “We aim to start local assembly of mobile phones in the last quarter of this year.” According to market sources, Samsung is more likely to sign an agreement with a Korean company within Pakistan.
Based on a national economic survey, the telecommunication survey received approximately $ 101 million in foreign direct investment between July to February 2021. Telcos themselves positioned more than $360 million of their own money. With Samsung’s arrival inbound, it shows how much more money will be invested into the ever-rising smartphone market hence allowing other global companies to get a piece of the same pie. The arrival of Samsung in the local production game is expected to pump more green into the cellular market and prompt other internationally acclaimed manufacturers to join it too.
The government had introduced Mobile Device Manufacturing Policy (MDMP) and under that policy, 21 companies are allowed to manufacture the mobile device in Pakistan from March to June 2021. The policy was approved by the Engineering Development Board, an arm of the Ministry of Industries and Production. The cellphone import saw a record surge this year in Pakistan. The cellphone import increased by 63 percent to $1.860 billion.
We are hoping for the best. Establishing a local assembly plant can prove to be of great benefit. World’s biggest smartphone maker said in an earnings estimate on Wednesday that it expected operating profit of around 12.5 trillion won ($11 billion) for April to June, up from 8.15 trillion a year earlier. Samsung aims to build a local assembly plant in Pakistan.
