Swedish company Talkpool selected as supplier for several key Chinese investments in Pakistan
ISLAMABAD, August 18: Swedish Internet of Things (IoT) company Talkpool announced on Tuesday afternoon that it has been selected as supplier for several key Chinese investments in Pakistan.
The company signed new orders with the Pakistani authorities worth EURO 1 million. Talkpool Pakistan signed a network testing contract with one of the major mobile operators in the country, worth approximately EURO 700,000 per year. It also obtained a large network equipment installation contract with an equipment vendor to a value of EUR 200,000, and won digitisation deals worth EUR 100,000 that have ramped up during August 2021.
In the past years, large investments from China have been made into Pakistan, connecting western China with a large harbour in Pakistan through motorways and rail. “Large Chinese Telecom bets on Telecom have also been made and Talkpool has been selected as supplier for several key Chinese investments in Pakistan,” said Talkpool Pakistan's Managing Director Faraz Zafar.
Since acquiring telecommunication company LCC Pakistan (Pvt) in 2017, the local revenue for Talkpool has remained stable around one billion Pakistani rupees whereas the revenue in Euros has dropped due to currency devaluations.
After the Covid lockdown, the company has managed a turnaround and business has gained momentum, mainly by hiring several new senior sales staff while increasing efficiency. Lately, the company has signed several promising business agreements.
In competition with strong competitors, Talkpool Pakistan signed a Network Testing contract with one of the major mobile operators in the country, worth approximately EUR 700'000 per year. Talkpool has also won a large network equipment installation contract with an equipment vendor to a value of EUR 200'000. Furthermore, Talkpool has won digitization contracts to a value of EUR 100'000 that are ramped up during August 2021. Talkpool Pakistan also has several digitization solutions trials ongoing that, if successful, can result in large orders before the end of the year.
Talkpool owns the leading digitization services business in Pakistan with offices all over the country and contracts with leading clients such as Telenor, China Mobile, Jazz, Ufone, USF, Huawei, Ericsson, Nokia and ZTE that award the orders mentioned above. Talkpool expects to increase the number of employees in Pakistan from 793 in June to approximately 1100 in September 2021.
“Our hard groundwork is starting to pay off. The Covid crisis has made us stronger and we're looking positive on the future,” comments Talkpool Pakistan's Managing Director Faraz Zafar.
