Samsung is allegedly in advanced negotiations with a variety of investors about constructing a phone assembly plant in Pakistan.
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One of the three interested parties is a South Korean investor who, prior to this development, had already established car assembly plants in Pakistan under the Auto Development Policy 2016-2021.
At this moment, no information on the remaining two entities has been confirmed.
According to market sources, Samsung is expected to enter into a deal with another Korean firm operating in Pakistan.
In terms of when the Korean tech behemoth would begin local manufacturing of its handsets in Pakistan, a source close to the agreement told reporters that the firm “aims to start local assembly of cellphones in the fourth quarter of this year.”
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According to Pakistan’s Economic Survey 2020-21, the telecom industry garnered $101 million in Foreign Direct Investments (FDIs) from July to February FY21, while telcos themselves invested more than $360 million in the sector during the same time, which was extended to December.
Samsung’s entry into the local manufacturing game is likely to inject more green into the cellular industry and entice other internationally renowned manufacturers to join the battle.
