ISLAMABAD: Lucky Motor Corporation has signed an agreement with Samsung Gulf Electronics to produce Samsung brand’s digital devices in Pakistan.
In a notice dispatched to Pakistan Stock Exchange today, Lucky Motor Corporation said, “In pursuance of this transaction, 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 the Pakistan Telecommunication Authority (PTA) for securing the license,” added the notice. Lucky Motor Corporation is a subsidiary of Lucky Cement.
The LMC further stated the production facility for manufacturing Samsung mobile devices will be located at LMC’s existing plant at Bin Qasim Industrial Park, Special Economic Zone, Port Qasim, Karachi.
“The LMC production facility is expected to be completed by Dec 2021. LMC is currently engaged in the business of manufacturing, assembly, marketing, distribution and sales of Kia and Peugeot branded vehicles, parts and accessories thereof, in Pakistan.
So far, 21 new companies have been authorised to start local manufacturing/assembly of mobile phones in Pakistan.
