Pantech Puts Itself Up for Sale
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.
Feb 26, 2020
LG today announced the V60 ThinQ 5G with LG Dual Screen. Its specs are flagship-level, but not quite as top-end as past V-series phones.
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.
Oct 3, 2018
Facebook believes artificial intelligence will benefit buyers and sellers who use Facebook Marketplace. Moving forward, Marketplace will rely on several AI-based features to improve the usefulness of the neighborhood sales tool.
Jan 25, 2018
Americans traveling to South Korea to attend the 2018 Winter Olympic Games will be able to roam for free if they subscribe to T-Mobile or Verizon Wireless. T-Mobile says its customers can take advantage of free unlimited high-speed data, unlimited calls within South Korea and back to the U.S., as well as free texting while attending the games.
May 24, 2018
Essential Products is for sale, reports Bloomberg, and has cancelled plans to develop a new phone. The company has hired a financial firm in order to help advise it on a potential sale, according to Bloomberg's sources, who also say Essential has already received interest from one possible buyer.
THEY SHOULD HAVE STAYED AUDIO VOX