The board of directors of Pearl Electronics has decided to venture into manufacturing and marketing of USB flash drives (pen drive).

The first phase of the project will start in the next three months by identifying a manufacturing site and setting up an assembly line.

The company plans to start with production of 10,000 units a day and thereafter scaling the production to 25,000 units in the times to come.

Shares of the company was last traded at Rs 0.28, down 1.97%, to trade at Rs 13.96. (Tuesday).