In a joint-venture with LMC, Samsung set to assemble smartphones in Pakistan by December 2021

The cellphone production facility will be established at Lucky Motor Corporation's existing plant in Karachi's Bin Qasim Industrial Park (BQIP).

Lucky Motors to Make Samsung Smartphones in PakistanSamsung, the world’s largest smartphone maker, is set to assemble mobile phones in Pakistan by December 2021.

The South Korean tech giant has entered into a joint venture with Lucky Motor Corporation (LMC) for this ambitious project.

Lucky Cement is one of the Leading Exporters of cement in Pakistan

The news of this project was shared by the Federal Minister for Energy, Hammad Azhar, in a post on Twitter.

Likewise, the Chairperson of the China Pakistan Economic Corridor (CPEC) Authority, Lt Gen (retd) Asim Saleem Bajwa, also lauded the development on the social media platform.

The cellphone production facility will be established at LMC’s existing plant in Karachi’s Bin Qasim Industrial Park (BQIP).

According to an LMC statement, the production facility is expected to be completed by December this year.

Even though the LMC asserts that the company is yet to discuss investment with Samsung, analysts claim that it could be around $100 million.

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According to the Chief Executive Officer (CEO) of Topline Securities, Muhammad Sohail, the venture can generate around $300-600 million annually.

Moreover, the project is forecast to make net profits of ₨. 1 billion to ₨. 1.5 billion in its formative phase.

About the Lucky Group.

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The LMC is a subsidiary of Lucky Cement, which is part of the Yunus Brothers Group — one of the largest business groups in Pakistan.

In recent years, the cement company has diversified its developments in the automobile sector by manufacturing, assembling, marketing, and distributing KIA and Peugeot vehicles.

It also sells spare parts and accessories for these cars in the Pakistani market.

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