Samsung partners with Sapphire Electronics for local manufacturing in Pakistan

This move is likely to enhance Samsung’s presence in Pakistan’s electronics and home appliance sector
An undated image of Samsung office. — Depositphotos
An undated image of Samsung office. — Depositphotos

Sapphire Electronics (Pvt) Limited, a subsidiary of Reliance Cotton Spinning Mills Limited (RCML), partners with Samsung Electronics, to manufacture, assemble, and sell Samsung-branded electronic products and home appliances in Pakistan.

In a notice, RCML revealed the development to the Pakistan Stock Exchange (PSX) on Monday.

Following the announcement, RCML’s share price increased to Rs759, hitting an upper lock amid an increase of Rs69 or 10%.

“Sapphire Electronics (Pvt) Limited, a wholly owned subsidiary of Reliance Cotton Spinning Mills Limited (RCML), has agreed with Samsung Electronics Co. Ltd, Republic of Korea and Samsung Gulf Electronics Co., FZE, United Arab Emirates, to manufacture and/ or assemble Samsung branded electronic products & home appliances and sell such products & appliances in Pakistan,” stated the notice.

This move is likely to enhance Samsung’s presence in Pakistan’s electronics and home appliance sector while boosting domestic production capabilities.

Previously in 2021, Lucky Motor Corporation (LMC), a subsidiary of Lucky Cement Limited, partnered with Samsung Gulf Electronics Co., for the production of Samsung-branded mobile devices in Pakistan.