South Korean electronics giant Samsung officially opened two factories in Bangladesh to manufacture five home appliances to meet local markets.
The factories, where LED television, refrigerator, air conditioner, washing machine and microwave oven will be produced, have been set up in a joint venture with the local group of Transcom and Fair Electronics.
Transcom Electronics has inaugurated a new ultramodern liquid crystal module production line capable of manufacturing 500 units of television panels and assemble 350 units of television per day.
The plant is currently run by 100 engineers, but it will create other employment opportunities in Bangladesh, said Transcom Electronics.
"We have taken this enormous enterprise and considerable investments taking into account the benefit of Bangladeshi customers," said Yeamin Sharif Chowdhury, head of Transcom Electronics.
The initiative will ensure the availability of genuine Samsung TVs in the country at affordable prices, said Seungwon Youn, general manager of Samsung Electronics Bangladesh.
"Our cooperation with Transcom will always go hand in hand and we believe it will generate opportunities for technological development in the television industry in Bangladesh," he added.
The LCM line was inaugurated by Saifur Rahman, director of Transcom Group, with KooYeun Choi, group leader of Samsung Electronics' global strategic business department, Taeho Park, chief of electronics large Audience at Samsung Southwest Asia and Youn.
The factory, which extends over 18,000 square feet in the Mohakhali area, began making television on a test basis compared to last month.
Some 13 models of televisions – all of which would be less than 55 inches – will be manufactured at the factory, along with some of the components brought from Vietnam.
Samsung currently has five distribution partners in Bangladesh and the factory will provide them with televisions.
The existing market for televisions is about ten lakh units per year. Of the total, branded products account for 40%.
The other factory that was inaugurated yesterday will be run by Fair Electronics.
The factory, located in Shibpur de Narsingdi, was inaugurated by Industry Minister Amir Hossain Amu, ICT State Minister Zunaid Ahmed Palak and Korean Ambassador Ahn Seong -doo.
The factory will manufacture 4 lakh units of refrigerator, 2.5 lakh microwave ovens units, 1,2 lakh air conditioning units and 50,000 units of washing machine each year, according to Fair Group.
The plant will employ about 3,000 people.