Hey buddy, want to buy a smartphone manufacturer? Pantech puts itself up for sale

Hey buddy, want to buy a smartphone manufacturer? Pantech puts itself up for sale
Being a Korean smartphone manufacturer these days, means having to compete with companies like Samsung and LG inside your own home country. Pantech is the third largest smartphone manufacturer in Korea, and after scoring six consecutive losing quarters (allowing the companies that produce red ink to have some nice profits), the manufacturer has put itself up for sale.

There is plenty of competition in the Koren smartphone market, even within the country's borders. 90% of Korean smartphone buyers purchase a home-grown device. That actually makes purchasing Pantech a quick and easy way for other handset manufacturers to buy into the Korean market in one fell swoop.

Companies interested in making a bid for Pantech have until 3pm on October 7th to submit an offer for the company. Pantech's value as a going concern is $366 million, more than double the $186 million liquidation value of the manufacturer. Samsung and LG are expected to be interested in Pantech along with Korean auto maker Hyundai and mobile operator SK Telecom. Outside of Korea, there is some talk that India's Micromax might have an interest along with some of the up and coming Chinese manufacturers like Huawei, Lenovo and Xiaomi.

source: ZDNetKorea (translated) via CNET

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23 Comments

1. Antimio

Posts: 313; Member since: Nov 11, 2013

That one goes for HTC. I'm sure about it.

2. KonaStang4.6

Posts: 285; Member since: Nov 04, 2011

I want a Helio Ocean 3 lol

22. meanestgenius

Posts: 22504; Member since: May 28, 2014

The Ocean was actually pretty good. I loved my Ocean. That dual slide design was awesome! Would be great to see a manufacturer make a handset with that design.

3. NokiaFTW

Posts: 2072; Member since: Oct 24, 2012

Nokia should buy them, if they have any intentions of making their own phones. Or else they'll have to wait for a couple of years.

14. akki20892

Posts: 3902; Member since: Feb 04, 2013

Good idea....but I think Nokia will wait....

19. maccess

Posts: 742; Member since: Jan 16, 2013

If they have the money..

20. snowgator

Posts: 3621; Member since: Jan 19, 2011

Not sure why so many people think Nokia wants back in the dawg-eat-pooch world of hardware when they have a ton of cash from Microsoft and an amazing leg up in software/mapping/patent holding businesses which require just a ton less overhead.

4. VyktorJonas

Posts: 40; Member since: Mar 26, 2014

anything but Samsung

7. silencer271

Posts: 254; Member since: Apr 05, 2013

I hope its samsung now.

10. justsayit

Posts: 256; Member since: May 09, 2013

but i heard that Samsung own some Pantech share...

17. walnuttt

Posts: 153; Member since: Apr 11, 2014

Samsung must buy Pantech now. I'm hoping so.

5. Ashoaib

Posts: 3309; Member since: Nov 15, 2013

patench is a nice phone maker... I dont know why they dont cross the borders of korea?

6. MegaEvolution

Posts: 33; Member since: Sep 24, 2014

$366 is quite a bargain, anyone know where I can bid? :)

9. StraightEdgeNexus

Posts: 3689; Member since: Feb 14, 2014

I hope you are joking and didn't miss the word "million".....

11. NokiaFTW

Posts: 2072; Member since: Oct 24, 2012

What's up SEN? Long time...

21. StraightEdgeNexus

Posts: 3689; Member since: Feb 14, 2014

Nothing. Was busy in work, now I'm free for a month :)

8. silencer271

Posts: 254; Member since: Apr 05, 2013

To bad Blu probably couldn't buy them.

12. darkvadervip

Posts: 366; Member since: Dec 08, 2010

I say apple buy them and start making android phones just for extra profit

13. caesantos

Posts: 90; Member since: Feb 27, 2014

10% of Pantech belongs to Samsung. Samsung is the third-largest shareholder in Pantech behind Qualcomm and Korea Development Bank.

15. Furbal unregistered

I think the pantech discover was one of the more underrated phones. Will be sad to see them go

16. uchihakurtz

Posts: 428; Member since: Nov 12, 2012

If it was in Zimbabwean Dollar I would so totally buy them...

18. ryq24

Posts: 876; Member since: Oct 17, 2011

Another one bites the dust! And it's a company with long history of mobile making. Time has change. Chinese and Indians mobile makers will someday dominate the market. Japanese companies will be next to go.

23. gigaraga

Posts: 1454; Member since: Mar 29, 2013

So sad. I love Pantech products. Pantech Vega No 6, Iron 2, and Secret Note. Hope they make even better products once a company buys them and continues its line of smartphones.

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