For sale: Pantech

For sale: PantechI’ve always thought it must be pretty depressing for LG, constantly being referred to as South Korea’s second-favourite mobile manufacturer after Samsung, but it’s actually doing pretty well at the moment – thank you very much.

Spare a thought for Pantech, however. Having hit tough times, the number-three South Korean mobile player is now looking for a full-on buyout.

The news doesn’t come as much of a surprise, really, since Pantech has been openly struggling for several long, hard months, during which it restructured its debt repayments and begged not to be kneecapped.

But despite recently securing an interest-free two-year extension, Pantech filed for what essentially amounts to bankruptcy this week.

Mobile network SK Telecom has been mentioned as a potential buyer, alongside other Korean players like Samsung, LG and Hyundai.

Alternatively, it’s not too far-fetched to imagine an outsider buying Pantech with a view to making a move into the rather insular Korean mobile market.

One top contender in that respect is India’s Micromax (we’ve mentioned them a few times recently in relation to Android One), which was rumoured to be on the verge of buying a chunk of Pantech pie back in April this year.

And not forgetting the Chinese OEM onslaught, including Huawei, Lenovo (both of those already being in the global Top 5) and Xiaomi.

Pantech’s last hurrah (or at least the last thing we wrote about) was the Vega Iron 2.

Read more about: Pantech Escapade WP8990VW

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