Aaj TV News

BR100 4,519 Increased By ▲ 22 (0.49%)
BR30 18,277 Decreased By ▼ -62 (-0.34%)
KSE100 44,114 Increased By ▲ 178 (0.41%)
KSE30 17,034 Increased By ▲ 95 (0.56%)
CASES 1,284,189 303
DEATHS 28,709 5
Sindh 475,248 Cases
Punjab 442,950 Cases
Balochistan 33,479 Cases
Islamabad 107,626 Cases
KP 179,928 Cases

Samsung to set up TV line-up plant in Karachi

22 ستمبر 2021
Samsung will soon produce TV sets in Pakistan. Business Recorder
Samsung will soon produce TV sets in Pakistan. Business Recorder

Samsung is all set to establish its TV line-up plant in Pakistan according to a tweet by advisor to the prime minister on commerce and investment, Abdul Razak Dawood.

The plant will be collaboration with R&R Industries in Karachi which will produce the TV sets for the South Korean company which has established itself as a global leader.

The plant "will become functional in Q4 of 2021 and is expected to produce 50,000 units annually,” tweeted Dawood.

“This is a vindication of MOC’s "Make-in-Pakistan" policy for industrialization via rationalization of input costs and other incentives,” he added.

As reported by Business Recorder on Wednesday, "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."

Many see this announcement as a major boost to Pakistan which has been advocating for more local assembly/manufacturing units as a way to reduce reliance on imports.

Samsung entered an agreement in July with a local company to produce Samsung mobile phones in Pakistan.