Pantech Hopes Debt Restructuring Gives It More Time
Pantech has reached out to its creditors in hopes that they'll allow the ailing firm to restructure its debt. At the moment, Pantech owes creditors more than the entire market capitalization of the company. "Through this [debt] workout, we expect to improve Pantech's financial status and secure a stable flow of liquidity," said Pantech. Pantech's creditors haven't yet agreed to the proposition. Pantech announced reorganization plans last September. It furloughed hundreds of employees, and is no longer selling phones outside of its home market. The last device Pantech brought to the U.S. was the Breeze IV for AT&T.
Feb 7, 2018
Turing Robotic Industries, a company that promised to create a sleek, secure smartphone nearly three years ago, has moved into insolvency. TRI was located in Finland and formed by some ex-Nokia employees.
Jun 20, 2017
Google today simplified the process of managing monthly bills for subscribers to its Project Fi wireless service. Starting this week, Project Fi gains a new tool that helps the account manager easily determine what each member of the plan owes and send them a bill.
Nov 3, 2017
T-Mobile has approached Sprint with a new proposal, reports the Wall Street Journal, in an attempt to keep the potential merger of the two companies alive. Talks failed earlier this week when Masayoshi Son, CEO of Sprint parent SoftBank, appeared to walk away from the deal over a disagreement concerning which company would own the other.
Jun 15, 2018
Broadcom says it has let go of about 1,100 employees in the wake of its $5.5 billion acquisition of Brocade. The Brocade deal closed in November 2017 and the firm has since been working to integrate the two.