The third biggest manufacturer of smartphones in South Korean, Pantech is now up for sale. Pantech could not keep up with rivals, Samsung and LG who are the first two on the list of local manufacturers. The small business has been suffering from the competition and experienced losses for six quarters in a row. The company has put itself up for purchasing to save itself from diminishing into nothing, at least by being bought, it could some money of something.
Consumers in South Korea have always opted for local home grown and breed products. Maybe a company from international waters could buy Pantech and use it as a way to penetrate the local Korean market. But, this will not be an easy buy as the company’s biggest owners are Samsung and Qualcomm. Well, whoever buys Pantech is in need of help to sell all the products that have been collecting dust! Good luck to the future buyer/owner!