Technology
Samsung set to assemble mobile phones in Pakistan
South Korean tech giant--Samsung with the help of Lucky Motor as local partners to produce their phones in Pakistan.
The production facility will be operational by December 2021.
According to the details, a was sent to the Pakistan Stock Exchange (PSX) by Lucky Cement which stated that that the company has "recently entered into an agreement with Samsung Gulf Electronics Co., FZE (Samsung) for producing Samsung branded Mobile Devices in Pakistan".
The company said that to follow up on its agreement, the group has already started the "process of seeking necessary regulatory approvals" including the filing of an application with the Pakistan Telecommunication Authority (PTA) for securing the license.
The letter stated that the production facility of Samsung will be located at Lucky Motor Corporation's existing plant facility producing vehicles at Bin Qasim Industrial Park in Port Qasim, Karachi.
"The production facility is anticipated to be completed by end of December 2021," it read.
Taking to Twitter, China Pakistan Economic Corridor (CPEC) Chairman Asim Bajwa lauded the "landmark development".
He also congratulated the Lucky Group for securing the agreement.
Minister for Energy Hammad Azhar also congratulated the Lucky Group for entering into a joint venture to manufacture smartphones in Pakistan.