Mi-fone has revealed plans to set up a plant in the UAE which is expected to cost between $15m and $18m
Hong-Kong headquartered mobile handset maker Mi-fone has revealed plans to set up a plant in the United Arab Emirates, The National has reported. Mi-fone, which specialises in selling low-cost devices to the African market, said the company’s margins are under pressure due to rising costs and the volatile state of the Yuan, Alpesh Patel, chief executive and co-founder said. The factory is expected to cost between $15m and $18m, with about 3 million devices manufactured annually, he said.
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