Pantech is a company that some of you guys might be familiar with. While the company is more popular in its home country of Korea, they have released several handsets that have managed to garner a fair bit of attention, such as the Pantech Vega Iron 2 which came with some pretty impressive hardware.
However it seems that devices like the Vega Iron 2 isn’t enough to keep the company afloat and compete with its other Korean brethrens, like Samsung and LG, because it seems that Pantech has decided to put itself up for sale. The Korean company is inviting bids to acquire the company and has asked those interested to submit their bids by the 7th of October.
While it is unclear as to how much Pantech thinks they are worth, early estimates have pegged the company to be worth around $366 million, so perhaps we could be looking at a figure around that level. It is also unclear as to which company could be interested in purchasing Pantech.
It could be a rival company hoping to snap up a competitor, or it could be a financial institution who thinks that Pantech still has value and could turn things around. It has been suggested that foreign companies such as Lenovo, Huawei, Micromax, and Xiaomi could be eyeing the company as well as it would provide them an easy entry into the Korean market.
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