- The plant established in collaboration with the Karachi-based R&R Industries will initially produce 50,000 units of TV sets each year
South Korean tech giant Samsung Electronics has commenced operation of its first television line-up plant in Pakistan, shared Advisor to Prime Minister on Commerce Abdul Razak Dawood.
The development comes as a major boost for Pakistan’s electronic sector as the country seeks to attract other international manufacturers to establish their base in Pakistan.
“We congratulate Samsung Electronics on operationalising its first TV Line-up plant in Pakistan at Karachi in collaboration with R&R Industries,” Dawood tweeted while sharing images of the said plant.
The plant established in collaboration with the Karachi-based R&R Industries will initially produce 50,000 units of TV sets each year. “Initially, the unit will produce 50,000 TV sets and increase the capacity to 100,000 units within 2 years,” he said.
The advisor said that the development is in line with the Make-in-Pakistan initiative of the Ministry of Commerce. “I urge all our firms to partner up with leading international companies to set up units in Pakistan,” he said.
As per the financial results for the second quarter ended June 30, 2021, Samsung Electronics posted consolidated revenue of Korean Won (KRW) 63.67 trillion, a 20% increase from the previous year and a record for the second quarter. Operating profit increased 34% from the previous quarter to KRW 12.57 trillion as market conditions improved in the memory market.
Gauging Pakistan’s potential Samsung Gulf Electronics Co., FZE (Samsung) in July entered into an agreement with Lucky Motor Corporation (LMC), a subsidiary of Lucky Cement Limited for the production of Samsung-branded mobile devices in Pakistan.