Sapphire Electronics (Pvt) Limited has signed an agreement with Samsung Electronics Co. Limited to manufacture, assemble, and sell Samsung-branded electronic products and home appliances in Pakistan.
The announcement was made by Reliance Cotton Spinning Mills Limited (RCML), the parent company of Sapphire Electronics, in a notice to the Pakistan Stock Exchange (PSX) on Monday.
“Sapphire Electronics (Pvt) Limited, a wholly owned subsidiary of Reliance Cotton Spinning Mills Limited (RCML), has entered into an agreement 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 and home appliances and sell such products in Pakistan,” the company stated.
RCML, whose principal business activity is the manufacturing and sale of yarn, is now expanding its footprint into the electronics and home appliances market through this partnership with Samsung.
This development is expected to boost the availability of Samsung products in Pakistan and contribute to the growth of the local electronics manufacturing industry.
