Home  ›  News  ›

Pantech Puts Itself Up for Sale

Article Comments  1  

Sep 26, 2014, 10:00 AM   by Eric M. Zeman

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 has been facing trouble all year long. It twice sought delays in debt payments and entered into court receivership in August. The company believes it will fetch a higher price if sold as a single entity (approx. $366 million) rather than broken up and sold in pieces (approx. $181 million). Bids for the company are due in early October. Pantech found itself unable to compete with Samsung and LG, which are also based in Korea. It faced financial losses six quarters in a row, which led to its debt problems and eventual bankruptcy.

Business Korea »
CNET »

Related

more news about:

Samsung
LG
Pantech
 

Comments

This forum is closed.

This forum is closed.

bluecoyote

Sep 26, 2014, 4:25 PM

THEY SHOULD HAVE STAYED AUDIO VOX

Why did they get rid of audio vox? Everyone loved audio vox communications- nobody knows what a Pantech is.
 
 
Page  1  of 1

Subscribe to news & reviews with RSS Follow @phonescoop on Threads Follow @phonescoop on Mastodon Phone Scoop on Facebook Follow on Instagram

 

Playwire

All content Copyright 2001-2024 Phone Factor, LLC. All Rights Reserved.
Content on this site may not be copied or republished without formal permission.