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.