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. More importantly, it is no longer able to compete against the likes of LG and Samsung in its home market, according to The Wall Street Journal, where a month long sales ban further crippled the company. Pantech has spent the last few years juggling with its finances. Last year, it accepted investments from Samsung and Qualcomm, which own 10% and 12% of the company, respectively. Even with these investments, Pantech owes creditors about $961 million - or double the amount of assets its has. Pantech only brought three models to the U.S. in 2013, and hasn't brought any in 2014. If Pantech's court receivership is accepted by the bank, it will have about a year to come up with a restructuring plan.
Jul 11, 2019
Sprint is launching its 5G network in Chicago this week. Utilizing the company's 2.6 GHz (band 41) spectrum, the network offers better coverage and building penetration than the mmWave 5G networks launched by other companies in Chicago to date.
May 30, 2019
Sprint's 5G network launches tomorrow in Atlanta, Dallas-Fort Worth, Houston, and Kansas City, as previously announced. In the coming weeks, Chicago, Los Angeles, New York City, Phoenix, and Washington, DC will also gain 5G service.
Jun 18, 2019
Verizon will launch its second phone with integrated 5G — the LG V50 ThinQ 5G — for all customers on June 20th. As with the Samsung Galaxy S10 5G, Verizon isn't restricting sales to areas where 5G service is available, as Sprint has done.
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Facebook today made significant changes to its platform as it continues to deal with the fallout from the Cambridge Analytica breach. To start, the company now believes Cambridge Analytica was given improper access to the data of as many as 87 million people, mostly U.S.
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Senators have overturned an agreement added to the National Defense Authorization Act, or NDAA, that would have made it more difficult for President Trump to remove the ban instituted against ZTE. Earlier this year, the Commerce Department said ZTE lied about a previous settlement and banned the company from using American parts or software in its phonres for a period of seven years.