Sapphire Electronics to Manufacture Samsung Products Locally

Sapphire Electronics (Pvt) Limited, a subsidiary of Reliance Cotton Spinning Mills Limited (RCML), has partnered with Samsung Electronics to locally manufacture, assemble and sell Samsung-branded electronic products and home appliances in Pakistan. The agreement, disclosed through a notice to the Pakistan Stock Exchange (PSX), is a significant milestone in advancing the local production of global consumer electronics.

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Following the announcement, RCML’s share price surged to Rs759, hitting the upper lock with a 10% increase. The collaboration reflects Samsung’s continued investment in Pakistan, further strengthening its presence in the country.

Samsung Electronics joins the ranks of companies like Lucky Motor Corporation (LMC), which previously partnered with Samsung for local smartphone production in Pakistan.

This move aligns with the broader strategy of enhancing local manufacturing capabilities. It also highlights the growing demand for quality home appliances and consumer electronics. The development is poised to bolster economic growth and generate employment opportunities in Pakistan’s industrial sector.