Filings Confirm Pantech's Deal With Nokia For CDMA Phones
Jun 8, 2006, 12:24 PM by (staff)
Updated Details of Pantech's agreement to supply Nokia with CDMA handsets emerged in the Korean manufacturer's financial filings today. Nokia will pay Pantech $129 million to supply two different handsets to Nokia for distribution in the US between June and December of this year. The two phones are most likely the 6305i, which just went on sale, and the 6315i, which was recently approved by the FCC. It is possible that the contract does not include the 6305i and a third model may be coming - the 6215i, a 1xRTT phone from Pantech with Nokia branding, was recently approved by the FCC as well. The 6305i was designed by SK Teletech before Pantech bought them a year ago, but it is not known whether Nokia had a separate contract with SKT for that phone.
Microsoft Makes Branding Change Official
Microsoft today indicated its branding transition from Nokia Lumia to Microsoft Lumia is progressing as planned. Microsoft has slowly been rebranding apps, services, and web sites from Nokia to Microsoft.
Pantech Files for Bankruptcy
Pantech filed for court receivership today, which is the South Korean equivalent of declaring Chapter 11 bankruptcy. The company has seen its share of the global market drop precipitously.
Pantech Puts Itself Up for Sale
Pantech, based in Korea, has staked a For Sale sign in its front lawn. The company, which declared the equivalent of bankruptcy last month, is seeking a buyer to scoop up the entire business.
Pantech Files for Bankruptcy In the US
Pantech's U.S. operations filed for Chapter 15 bankruptcy today, following similar legal moves in the company's home market of Korea.
Nokia-Branded Phones to Make a Comeback
Nokia and Microsoft today put in motion a series of deals that will eventually lead to Nokia-branded handsets returning to the market. Microsoft has agreed to sell its feature phone business to FIH Mobile Limited, a subsidiary of Foxconn, for about $350 million.