The company devised this strategy in response to the announcement by Realme, another Chinese phone manufacturer, that it will establish a smartphone manufacturing facility in Lahore.
As a result, there have been significant price reductions across the country, particularly for the Realme C21. If Xiaomi is successful in its ambitions, it is reasonable to predict a similar outcome when it comes to the company’s smartphone pricing.
Realme has already tested its locally built smartphone in Lahore, which has resulted in significant price reductions for Realme phones, notably the Realme c21, in the country.
According to Sherry Dong, Director of Marketing for Realme in Southeast Asia, South Asia, and Latin America, Realme has a strong presence in these regions.
Two South Asian companies intend to manufacture smartphones and other Internet of Things (IoT) items in the country’s domestic markets.
Both firms are known for making low-cost smartphones available to the public. As a developing country with a huge and young population, Pakistan is a good example. The domestic production of smartphones will have a favorable impact on the country’s socio-economic position.
Pakistan is the world’s seventh largest importer of smartphones, after China and the United States. As a result, local production will help to reduce the amount of foreign cash spent on mobile phone imports.
Local production also saves the country money by avoiding the payment of high import duties, which have been increased to 240 percent as per the 2021-22 fiscal year budget proposal.
According to Canalys, a worldwide analytics organization, Xiaomi has moved up to second place after passing Apple in the second quarter of 2021.
Its shipments climbed by 83 percent year on year, bringing it to a 17 percent market share in the world. The company will surpass Samsung and become the world’s largest smartphone brand before the end of this year if its current rate of growth continues at its current rate of growth.
Canalys also published a list of the top smartphone vendors in Pakistan for the first quarter of 2021, which included Transsion at #1, Vivo at #2, Samsung at #3, Oppo at #4, and Xiaomi at #5.