Printed from http://www.electronista.com

Samsung acquires 10 percent stake in Pantech for $47.6M

updated 06:45 am EDT, Wed May 22, 2013

Samsung becomes third-largest stakeholder in manufacturer

Samsung has bought a 10 percent stake in South Korea-based mobile producer Pantech. The purchase of shares in the country's third-largest smartphone manufacturer, reported to be worth 53 billion won ($47.6 million), will make Samsung the third-largest stake holder, just behind Qualcomm and the state-owned Korea Development Bank.

Talking to the Yonhap news agency, Samsung stated the move "will help further solidify bilateral cooperation in smartphone and other business areas." A later statement passed to The Next Web mentions "Samsung will have no involvement in Pantech's business management in any way or form," along with calling Pantech a "key component customer of Samsung." Pantech is said to have bought 235 billion won ($210 million) in components from Samsung and its affiliates in the last year.

While the company is well known within South Korea and in nearby regions, Pantech struggles to be recognized in other markets, though it has created some notable devices. Earlier this year, it demonstrated the Vega No. 6 phablet with a 5.9-inch full HD display, followed by the Vega Iron with its 2.4mm (0.1-inch) bezel.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Dell AD211 Bluetooth speaker

For all of the high-priced, over-engineered Bluetooth speakers in the electronics market, there is still room for mass-market solution ...

VisionTek 128GB USB Pocket SSD

USB flash drives dealt the death blow to both the floppy and Zip drives. While still faster than either of the old removable media, sp ...

Kodak PixPro SL10 Smart Lens Camera

Smartphone imagery still widely varies. Large Megapixel counts don't make for a good image, and the optics in some devices are lacking ...

Sponsor

toggle

Most Commented

 
toggle

Popular News