Xiaomi To Set Up A Smartphone Manufacturing Plant In Pakistan
Xiaomi becomes the world's second-largest smartphone manufacturer leaving Apple behind, and having billions of dollars in the market around the world. With a jump of 83% in shipments in recent years, Xiaomi secured a 17% of global market share. Xiaomi manufactures and delivers millions of devices daily with having many manufacturing plants in different countries.
“Xiaomi is growing its overseas business rapidly,” Canalys Research Manager Ben Stanton stated in a press release.
According to recent news, Xiaomi decided to set up its smartphone plant in Pakistan, in the upcoming four to six months. Setting up a smartphone assembly plant in Pakistan will provide a huge economic benefit to Xiaomi.
Why did Xiaomi Decide to set up a Plant in Pakistan?
Pakistan has become the world's 7th largest importer of smartphones, with 40 million smartphone users. Pakistan has had some big smartphone assembly plants in the past few years such as Tecno, Infinix, GFive, and Realme. The latest smartphone model, Realme C21, was also assembled in Pakistan which got huge success by having a very affordable price tag.
According to figures shared by the Pakistan Bureau of Statistics (PBC) in June “mobile phones worth $1.86 billion were imported in the country in the first 11 months of FY21, which is an increase of 63.4% as compared to $1.138 billion worth of phones imported over the last year.”
Having an assembly plant also saves the company from having import duty and taxes, which is also increased by about 240% according to the recent Annual Budget Report. Concerning these reasons, it will be a lot beneficial to Xiaomi for setting up this assembly plant in Pakistan.
Benefit to Pakistan
Manufacturing of smartphones in Pakistan will provide some great benefits, such as having smartphones at a very affordable price with paying very low tax. This will also provide job opportunities to unemployed people. Inspecting big companies in Pakistan will also seek the attention of investors allowing them to invest more. Furthermore, local smartphones manufacturers will compete harder, bringing out more skill and talent due to competition, which could also open gates for exporting their own phones from Pakistan in the near future.
Conclusion
The demand for Smartphones is increasing in Pakistan. Well, globally to be exact. Having locally assembled smartphones will provide a lot of benefits to Pakistan as well as Xiaomi Company. The premium smartphones will be manufactured in Pakistan at a very affordable price without any delays if Xiaomi sets up a manufacturing plant in Pakistan.
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