KARACHI: Sapphire Electronics (Pvt) Limited, a subsidiary of Reliance Cotton Spinning Mills Limited (RCML), has announced a strategic partnership with Samsung Electronics to locally manufacture, assemble, and sell Samsung-branded electronic products and home appliances in Pakistan.
The announcement, disclosed in a notice to the Pakistan Stock Exchange (PSX) on Monday, stated: “Sapphire Electronics (Pvt) Limited, a wholly owned subsidiary of RCML, has entered into an agreement with Samsung Electronics Co. Ltd., Republic of Korea, and Samsung Gulf Electronics Co. FZE, UAE, to produce and market Samsung-branded products in Pakistan.”
Following this news, RCML’s share price surged by 10%, reaching Rs759, reflecting strong investor confidence in this collaboration.
This partnership represents a major milestone for Pakistan’s electronics industry, enhancing local production capabilities while offering consumers access to globally renowned Samsung products. Samsung Electronics, a South Korean technology leader, is celebrated for its innovative devices, including smartphones and home appliances.
The agreement aligns with a growing trend of global companies entering Pakistan’s manufacturing sector. In 2021, Lucky Motor Corporation (LMC), a subsidiary of Lucky Cement Limited, partnered with Samsung Gulf Electronics Co. FZE to locally produce Samsung-branded mobile devices at its facility in the Bin Qasim Industrial Park, Karachi.
This new collaboration underscores Pakistan’s potential as a manufacturing hub for international tech brands.
