Qualcomm takes a small stake in southland Korea’s Pantech
Sep 4, 2009 phones
South Korean Peninsula’s third largest phone manufacturer, Pantech, announced that Qualcomm (NSDQ: QCOM) would become a nonage stockholder in Pantech Co. Ltd. and Pantech &ere; Curitel Communications Inc. The move comes as a result of Pantech’s architectural plan to convert parcel of its debt into fairness.
Qualcomm North Korean won’t take an active role in the company management, and will get no more than 15% of Pantech’s park shares. According to Qualcomm Korean Peninsula’s Dr. Cha Young Koo “this conversion volition create a stronger platform on which Pantech can continue to build its prior successes in developing unique and innovative products.”
Pantech sits in the apparition of two other Korean handset makers – LG and Samsung, and in that sense plans to further push handset shipments to Japanese Islands and the U.S. We’ll see how that goes…
Tags: korea, north korea, south korea
Leave a Reply