- PEL targets $100m exports, WAVES attracts Chinese investors, and Sapphire signs major Samsung deal
PEL plans to increase its exports to $100 million by the end of 2026
Pakistani home appliances giant Pak Elektron Limited (PEL) plans to increase its exports to $100 million by the end of 2026 after expanding its global footprint to the US as part of its business expansion strategy to explore new international markets. PEL’s new American client is Maddox Industrial Transformer LLC, which supplies new and remanufactured power transformers to commercial and industrial clients in the US. PEL plans to increase its exports up to $50 million this year by December and double the same to $100 million by the end of 2026. The company’s current exports stand at $3 million, with most of its shipments going to the United Kingdom, Jordan and African countries.
PEL also entered into a strategic partnership last month with Swedish giant Electrolux AB, a global leader in multi-category home appliances brands such as Electrolux, AEG and Frigidaire, to leverage its strength to drive sustainable growth. In 2024 Electrolux Group had sales of Swedish Krona 136 billion and the company employed 41,000 people worldwide.
After tapping the US market, the Pakistani company plans to expand its reach to the Middle East as well, particularly Saudi Arabia where there is enough demand for electronic products. Talks with the company’s potential clients from Saudi Arabia are already underway.
WAVES garners attention from Chinese investors
In a pivotal development for Pakistan’s economic landscape, WAVES Home Appliances, distinguished by its iconic brand “Naam He Kaafi Hai” carrying 50 years old legacy of WAVES and 100 years old legacy of SINGER Pakistan, is set to lead the charge in revitalizing the country’s home appliance sector for inviting fresh foreign investment in the country.
While economic challenges posed hurdles until early 2024, a renewed wave of optimism has emerged as WAVESAPP’s with robust capabilities intends to meet both local demands and international export requirements. WAVESAPP has garnered attention from Chinese Investors for its ability to maintain high-quality standards. Its certification by international bottlers as well as local and foreign food companies brings to light its commitment to meeting stringent international benchmarks.
As the only large company solely focused on home appliances, WAVES Home Appliances offers specialized expertise and a streamlined approach with its unmatched expertise and infrastructure. This positions them as the preferred JV partner for international collaborations and reinforces their capability to cater to diverse market needs, especially for Chinese companies seeking to establish joint ventures in Pakistan.
As interest from Chinese investors renews, WAVESAPP’s role in Pakistan’s economic narrative grows increasingly prominent. Investors are keenly watching WAVES Home Appliances as a potential catalyst for sectoral growth and market transformation.
Sapphire Electronics in partnership with Samsung Electronics
Sapphire Electronics (Pvt) Limited, a subsidiary of Reliance Cotton Spinning Mills Limited (RCML), has announced a significant partnership with Samsung Electronics, a global technology giant. This collaboration will see Sapphire Electronics manufacture, assemble and sell Samsung-branded electronic products and home appliances within Pakistan.
This development marks a significant milestone in the local production of global consumer electronics within Pakistan. Samsung Electronics, a South Korean multinational giant, is a leading player in the global technology market, renowned for its innovative smartphones, home appliances, and other electronic devices.
This partnership follows a similar move by Lucky Motor Corporation (LMC) in 2021. LMC, a subsidiary of Lucky Cement Limited, entered into an agreement with Samsung Gulf Electronics Co, FZE to commence the production of Samsung-branded mobile devices in Pakistan. LMC had announced that the production facility for these devices would be located at its existing plant in the Bin Qasim Industrial Park, Special Economic Zone, Port Qasim, Karachi.