South Korean tech giant Samsung has been in talks with three investors for setting up a mobile manufacturing unit in Pakistan.
Out of three parties, one has a franchise from Korea which has already set up vehicle assembling plants in Pakistan under Auto Development Policy (ADP) 2016-21, while the other two are different parties.
They said so far no agreement has been signed as Samsung, after shortlisting various companies, is in the process of finalising its plan to award the license to one of the companies for cellphone manufacturing.
On Wednesday, the world’s biggest smartphone maker said in an earnings estimate that it expected operating profit of around 12.5 trillion won ($11 billion) for April to June, up from 8.15 trillion won a year earlier.
The Korean company aims to start the local assembly of cellphones in the last quarter of this year. Samsung may prefer the option to ink the agreement with one of the Korean companies operating in Pakistan owing to comfort level which it may not find with non-Korean firms.