Samsung Electronics, a South Korean technology behemoth, has launched its first TV line-up plant in Karachi in conjunction with a local business, Commerce Adviser Razak Dawood disclosed on Monday.
The development is a big boost for Pakistan’s electronic sector, as the country attempts to entice further multinational corporations to establish more plants in the country.
Industries PVT Ltd and Samsung have agreed to establish a facility in Karachi’s Korangi Industrial Area. The factory’s building and fabrication are already finished.
The project’s commercial revenue is anticipated to reach Rs5 billion each year, with an annual aim of manufacturing 50,000 TV units. According to the local firm, this agreement will help create up to and more than 700 chances in Pakistan.
Samsung Electronics, founded in 1969, soon climbed to prominence in the Korean market. This swiftly expanded to Samsung becoming a prominent worldwide brand and one of the world’s leading television makers for the last 15 years.
In July, Samsung Gulf Electronics Co., FZE (Samsung) entered into a partnership with Lucky Motor Corporation (LMC), a subsidiary of Lucky Cement Limited, to manufacture Samsung-branded mobile devices in Pakistan.