LG Snaps Up KTFT

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posted Mar 16, 2006, 9:19 AM

LG Electronics today announced a tentative deal to acquire KTFT. KTFT makes phones for the North American market in cooperation with UTStarcom, such as the CDM-9200 for Verizon Wireless currently available through select channels. A UTStarcom spokesperson was unavailable for comment on how this might affect future planned models, such as the 9945 shown off by UTStarcom at recent trade shows. Currently Korea's third-largest phone maker, the purchase of fifth-largest KTFT should restore LG to the number two position. Last year, Pantech acquired SK Teletech to take the Korean number two position from LG.

more info at The Korea Times »

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