Welcome Guest Login | Register | Site Map | | Make TelecomTiger my homepage     
Telecom News
Telecom News
Enterprise |  Policy & Regulation |  Mobiles & Tabs |  Corporate |  VAS |  People Movement  |  Technology  |  LTE
Corporate
Qualcomm acquires take in South Korea’s no.3 handset manufacturer, Pantech
TT Bureau |  |  19 Aug 2009

South Korean handset manufacturer, Pantech announced that it has entered into a debt-to-equity conversion agreement with US major Qualcomm with Qualcomm absorbing all of Pantech’s $ 76.26 million debt which will then be converted as equity for Qualcomm.

 

Qualcomm will acquire more than 12 % stake in Pantech as well as Curitel Communications. Qualcomm however will serve only as passive investor with no participation on the board or management. 

 

"Pantech has enjoyed a long-standing relationship with Qualcomm and benefited from working closely with the company, including using Qualcomm''s leading technologies, components, software, and technical support," said Yulmo Yang, spokesperson for Pantech.

 

Pantech managed to record sales of 2.2 million handsets in Q2 2009 with 12 % market share in the domestic market.

    
 mail this article    print this article    Show and Post comment
19 Aug 2009(IST)  
telecom
Whitepaper
Cisco® ONE: Traffic Visualization and Control
Traffic visualization and control applies this vision to effectively manage traffic and session growth while economical...read more
Simplify Your Network with Cisco ASR 9000 nV Technology
With the new Cisco Network Virtualization (nV) technology in the Cisco ASR 9000 Series Aggregation Services Routers, se...read more
Maintain Business Continuity with Cisco ASR 9000 nV Technology
It is a virtual chassis solution where a pair of ASR 9000 routers acts as a single device by maintaining a single contr...read more