PHOTO
A Samsung flag flutters outside the company's Seocho building in Seoul on April 27, 2023. - Samsung Electronics on April 27, reported its worst quarterly profits in 14 years, blaming slowing consumer spending on electronics and a global microchip glut that hit its core memory business. (Photo by Jung Yeon-je / AFP)
Samsung Electronics Egypt is probing expansion plans in the Egyptian market, according to a statement by the General Authority for Investment and Free Zones (GAFI) on May 7th.
Samsung’s investments in Egypt have reached over $500 million so far, with sales exceeding $1.3 billion, GAFI’s CEO Hossam Heiba said.
The company has become the top exporter of electronics in Egypt and has succeeded in fulfilling the demand of both domestic and international markets, he added.
It has also contributed to the localization of the electronics industry in Egypt by manufacturing electronic tablets and mobile phones, creating around 5,000 direct and indirect job opportunities, Heiba noted.
Copyright © 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
