Sri Lankan assembled 4G smart phone to be released this December - Opportunity Sri Lanka
Sri Lankan assembled 4G smart phone to be released this December

Sri Lankan assembled 4G smart phone to be released this December

Sri Lanka’s first assembled 4G smart phone is to be released to the local market this December by the local company – Micro Electric International Pvt. Ltd. The launch will reportedly create history in Sri Lanka’s ICT sector.
The locally assembled 4G smart phone has been branded Hypro 4G.
Chairman Micro Electric Dhammika Samarawickrama has been quoted as saying that they had already signed the IJV agreement with Lodule International Ltd of South Korea and the phone model and other design details are finalized.
The HyPro mobile will have an English, Sinhala and Tamil languages selection option while the user will also have the option of selecting Buddhist, Christian, Hindu, and Muslim religious sermons, according to the Daily News.
“We will also obtain a patent for this,” Samarawickrama has said, adding, “The Sri Lankan Embassy in Korea, particularly Ambassador, Saj Mendis has had several rounds of discussions to restore confidence and optimism on the topmost management of Lodule International Ltd. to continue and take forward this project.”
Micro Electric International is an ISO certified family-owned electrical products and accessories company that has operated for 25 years. The total joint investment would be around Rs. 900 million.
According to Samarawickrama, they have already signed a joint venture (JV) with Lodule Co. Ltd Korea, one of the leading suppliers of mobile and TV component manufacturing companies in Korea and they have already set up mobile manufacturing plants in several countries.
“This is the model they want to adopt to Sri Lanka as well and are looking at exporting 60% of Hypro 4G phones with the ‘Made in Sri Lanka’ tag overseas and will also look at manufacturing other electrical components,” Samarawickrama has added.

OSL take:

Sri Lanka’s move towards becoming a business hub in the South Asian region has opened up a host of new business/investment opportunities. Sri Lanka is engaged in a technological transformation along with the development of ICT and digital infrastructure development sectors. All these have opened new opportunities in Sri Lanka. With Sri Lanka’s economy showing resilience despite pandemic challenges and several key economic sectors showing a growth momentum, business/investment opportunities in Sri Lanka pose a host of lucrative opportunities.

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Article Code : VBS/AT/28092021/Z_3

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