Pakistan has a low purchasing power, which means most of its imported goods are far too expensive for ordinary people. This is the reason why smartphones have struggled to penetrate the Pakistani market. Although 80% of the population possesses phones, just 20% of it owns a smartphone. The only way to realise widespread use of smartphones in the country is to manufacture them locally to cut the cost.
Xiaomi, a smartphone giant from China, started manufacturing smartphones in Pakistan on March 4 and this brings immense opportunities to Pakistan. Made in Pakistan Xiaomi products would also be exported to other countries, bringing export revenue into the country.
Such a massive factory would bring a lot of job opportunities to Pakistan. It is not only providing jobs to professionals but also presenting immense learning opportunities by working with the industry leader.
For Pakistan, cheap and affordable smartphones are key to becoming a digital country similar to China, which has used smartphones to make the life of its people easier and bring them income with apps like AliPay and WeChat. The digitalisation of currency has also helped curb issues related to the shadow economy. Widespread adoption of phones will lead related fields like mobile applications to earn more revenue in Pakistan and from abroad.
THE ARTICLE ORIGINALLY APPEARED ON THE CHINA ECONOMIC NET
Published in The Express Tribune, March 13th, 2022.
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