SAMSUNG is reportedly in advanced talks with a variety of buyers about establishing a cellphone meeting unit in Pakistan.
One of the three parties looking to invest comes from the South Korean investor pool, which has previously built car meeting models in Pakistan under the Auto Growth Coverage 2016-2021.
At this time, no information about the remaining two entities has been confirmed.
According to market sources, Samsung is almost certainly attempting to signal an agreement with another Korean firm operating in Pakistan.
When asked when the Korean tech behemoth will begin local manufacturing of its smartphones in Pakistan, a source familiar with the Samsung deal told reporters that the company “plans to begin local manufacturing of cellphones within the final quarter of this year.”
According to Pakistan’s Financial Survey2020-21, the telecom sector attracted $101 million in Overseas Direct Investments (FDIs) from July to February FY21, while telcos themselves invested more than $360 million in the sector during the same period extended to December.
Samsung’s entry into the domestic manufacturing game is expected to bring more inexperienced players into the mobile market and prompt other internationally renowned manufacturers to join the fray.