Samsung has entered into an agreement with Lucky Motor Corporation Limited (LMC), a subsidiary of Lucky Cement Limited, to assembly its smartphones in Pakistan.
A letter which was sent to the Pakistan Stock Exchange by Pakistan-based firm said that the company has “recently entered into an agreement with Samsung Gulf Electronics Co., FZE (Samsung) for producing Samsung branded Mobile Devices in Pakistan”.
It said that the 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 Pakistan Telecommunication Authority (PTA) for securing the license”.
The production facility for producing Samsung Mobile Devices will be located at LMC’s existing plant facility producing vehicles at Bin Qasim Industrial Park, Special Economic Zone, Port Qasim in Karachi.
The production facility is anticipated to be completed by end of December 2021.
Chairman China Pakistan Economic Corridor (CPEC) Asim Bajwa called the agreement the “landmark development”.
“This landmark development coupled with a number of upcoming Chinese mobile phone manufacturing facilities in Pakistan will expand our manufacturing base, help boost exports and create more jobs,” said Bajwa.
This landmark development coupled with a number of upcoming Chinese Mobile phone manufacturing facilities in Pakistan will expand our manufacturing base, help boost exports and create more jobs. Well done! https://t.co/LRA2Ub2Hh1
— Asim Saleem Bajwa (@AsimSBajwa) July 16, 2021
Minister for Energy Hammad Azhar also congratulated the Lucky Group over the development.
“These positive developments are evidence of the success of Device Identification Registration & Blocking System (DIRBS) system that eliminated smuggling of phones. And then followed up by the mobile manufacturing policy last year,” said Azhar.