Chinese smartphone maker Xiaomi is set to inaugurate its factory in Bangladesh on Thursday.
The launching ceremony will be held at Dhaka’s InterContinental hotel with Prime Minister's Private Industry and Investment Affairs Adviser Salman F Rahman as the chief guest.
The Chinese smartphone maker is establishing the factory through Foreign Direct Investment (FDI) in Gazipur without the involvement of any third party.
According to sources, Xiomi is likely to announce new plans for the brand as well as new offers during the program.
Mobile handset manufacturing began in Bangladesh in 2017 when Walton started producing electronic products locally.
Later, cellphone giant Samsung as well as Symphony, and other brands started manufacturing in the country.
These brands account for 55% of the smartphone and feature phone demand in the country.
Post and Telecommunications Minister Mostafa Jabbar recently said that nearly 82% of the smartphones in demand are manufactured in the country.
The government has so far issued licenses to 13 companies to start production in the country while Nokia is also ready to set up factories in Bangladesh.
In 2020, nearly 32 million units were sold in the country among which nine million were smartphones.
According to Bangladesh Mobile Phone Importers Association (BMPI) Joint Secretary Mohammad Mesbah Uddin, during the first half of 2021, some 7.5 million cell phones were sold among which two million were smartphones.
Experts predict 32 million units to be sold this year with a target of selling 12 million units of smartphones.