Asian Tech Press (Feb 7) -- Chinese electronics giant Xiaomi Corp will reportedly produce smartphones in Argentina.

A government official accompanying Argentine President Alberto Fernandez on trips to Russia, China and Barbados said that Xiaomi will establish a production site for smartphones in Tierra del Fuego, Argentine media outlet Página 12 reported on Sunday.

The company's announcement is expected to be issued within 60 days, meaning a multimillion-dollar investment in Argentina, the report said.