Tech giant Samsung is reportedly in advanced talks with multifaceted investors for establishing a phone assembly unit in Pakistan.
Of the three parties who’re looking to invest, one entity hails from the South Korean investor pool that prior to this development has already built vehicle assembly units in Pakistan, under the Auto Development Policy 2016-2021.
Information about the remaining two entities hasn’t been confirmed at this point in time.
According to market sources, Samsung is most likely looking to sign an agreement with another Korean company operating within Pakistan.
In terms of when the Korean tech giant will start local assembly of its smartphones in Pakistan, a source privy to the Samsung deal told reporters that the company “aims to start local assembly of cellphones in the last quarter of this year”.
Pakistan’s Economic Survey 2020-21 notes that the telecom sector attracted $101 million in Foreign Direct Investments (FDIs) during July-February FY21, while telcos themselves positioned more than $360 million of their own money into the sector in the same period extended to December.
Samsung’s arrival in the local production game is expected to pump more green into the cellular market and prompt other internationally acclaimed manufacturers to join the fray.