The third largest Korean smartphone maker Pantech is not very popular outside of South Korea, which negatively affects the company's financial position. The last two years have been very unfortunate for the manufacturer, which made it impossible to timely repay creditors, which in August this year refused to extend the time of refund, and appealed to the competent authorities for issuing the company's assets for sale.
Seoul Central Court this week opened registration for the participants of the upcoming auction, which will last until October 7. The residual value of Pantech was estimated at $ 182 million, while the market value of the existing company reaches nearly $ 366 million.
It is expected that the upcoming auction will be attended by Samsung and LG, which could be interesting developments competitor and its production capacity, as well as local mobile operator SK Telecom, which has been named by analysts the most likely candidate to receive the assets of the bankrupt. In addition, companies are interested in buying Hyundai Motor Group and several foreign manufacturers of smartphones: the Indian Micromax, Chinese Huawei, Lenovo and Xiaomi. For the latter, buy Pantech would highly successful acquisition, as it allowed to enter at a very closed market of smartphones in South Korea, 85% of which is occupied by smartphones from Samsung and LG. As you know, these manufacturers produce exclusive version top flagships for the home area at relatively low prices, making third-party products uncompetitive.
Pantech Curitel - South Korean company, a producer of mobile phones and modems standards GSM, CDMA and WCDMA. The company was founded in 1991. Most of the phones sold in the domestic market, although some sold in Europe, Japan, Brazil, Australia, the United States and other countries. The best known devices such as Pantech Discover , Vega and Vega Iron .