Islamabad, Dec 23: Sapphire Electronics (Pvt) Limited, a subsidiary of Reliance Cotton Spinning Mills Limited (RCML), has secured an agreement with Samsung Electronics Co. Limited to manufacture and assemble Samsung-branded electronic products and home appliances for the Pakistani market. This partnership includes the production and sale of Samsung products in Pakistan, marking a significant step in Sapphire Electronics’ expansion into the consumer electronics sector.
Following the announcement, RCML’s share price saw a sharp increase of Rs. 69, hitting the upper circuit limit with a 10% rise, closing at Rs. 759. Reliance Cotton Spinning Mills Limited, traditionally focused on yarn manufacturing, has now ventured into electronics through this collaboration, which signals an important diversification for the company.
