Samsung, the world’s largest smartphone maker, is set to assemble mobile phones in Pakistan by December in a joint venture with Lucky Group.
Lucky Motor Corporation (LMC), a subsidiary of Lucky Cement Limited, has entered into an agreement with Samsung Gulf Electronics Co., FZE (Samsung) for the production of Samsung-branded mobile devices in Pakistan, a notice sent to the country’s stock exchange on Friday stated.
“In pursuance of this transaction, LMC has also initiated the process of seeking necessary regulatory approvals to carry on the said business and, in this endeavor, has filed an application with the Pakistan Telecommunication Authority (PTA) for securing the license,” the notice said.
“The production facility is anticipated to be completed by end of December 2021. That further information on the amount contemplated to be invested in the production facility and the capacity thereof shall be discussed between the Parties (Samsung and LMC) in due course of time,” it added.
The development comes as the federal cabinet, in June last year had approved the Mobile Device Manufacturing Policy to promote indigenization through local and foreign direct investment and joint ventures.
Minister for Industries and Productions Hammad Azhar had last year indicated that Leading smartphone manufacturer Samsung is considering setting up an assembly plant in the country.
“Smartphone production in Pakistan is multiplying following the Device Identification, Registration and Blocking System (DIRBS) implementation and Mobile [Device Manufacturing] Policy launched recently,” Azhar shared on the microblogging website.
Smartphone production in Pak is multiplying following DIRBS implementation and Mobile Policy launched recently.
Met with the Samsung Pakistan MD and CEO. They appreciated both policies and are now actively considering setting up a smartphone assembly plan in Pakistan. pic.twitter.com/8bGBnCWvir
— Hammad Azhar (@Hammad_Azhar) August 21, 2020
On the other hand, Pakistan’s mobile phone manufacturing industry has witnessed an encouraging trend,
As being reported, 1.21 million mobile phones were manufactured at the 33 local mobile devices assembly plants in Pakistan. in the first two months of 2021.
The number of smartphones assembled and produced in January and February 2021 indicate a significant increase as compared to the last two years.
The country produced 2.1 million smartphone devices in 2020 and 119,639 in 2019, according to Pakistan Telecommunication Authority (PTA).
Pakistan has produced over 25 million mobile devices including 4G smartphones following the successful implementation of PTA’s Device Identification, Registration and Blocking System (DIRBS).
“With the successful execution of DIRBS, the local assembly industry has evolved from infancy to well-growing stage, with significant growth seen in the local assembly of smartphones,” PTA said.
Keep following this space for more updates.
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