UTStarcom Starts Investigating Exit Strategies
Oct 12, 2006, 2:20 PM by (staff)
UTStarcom has contacted investment firm Merrill Lynch to help it explore strategic options to increase shareholder value. Merrill Lynch will likely investigate the sale of the company, a merger, or spin off of specific units. Although UTStarcom's phone unit has been slowly launching new handsets and recently won the distributorship for Pantech handsets in the Americas, some of the company's other units have been failing. It is possible that UTStarcom will attempt to spin off some of these less successful units instead of selling off the company or merging.
Samsung Plans to Sell Refurbished Galaxy Note7
Samsung plans to bring back the Galaxy Note7, despite the massive recall that spelled the phone's demise last year. The company will sell refurbished versions of the phone, though Samsung is still determining where via talks with regulatory authorities and carriers.
ZTE Hopes High-End Phones Will Increase Sales
ZTE today said it plans to push into the high-end smartphone market controlled by the likes of Apple, HTC, LG, Samsung, and Sony. According to Reuters, sales of ZTE's mid-range and entry-level handsets are strong, but margins are too thin.
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.
LeEco Founder Steps Away from CEO Role
Jia Yueting, who founded China's LeEco, is cutting back on his responsibilities in order to help the company better focus on products. Specifically, Jia has stepped down as the CEO of Leshi, LeEco's main business unit.