Home » Uncategorized » Pantech Group going broke?

Pantech Group going broke?

Uh oh, this can’t be good. I thought that Pantech was doing pretty well for itself lately, expanding into international markets like never before. I guess I was wrong. Turns out that Pantech Group is “on the verge of bankruptcy”, according to Telecoms Korea.

Korea’s third largest mobile phone manufacturer has requested a number of creditors to “launch a corporate workout program in order to deal with liquidity [sic] crisis it now is faced with.” The cell phone market is ridiculously competitive, and when you’re loading yourself up with a pile of debt, and not balancing things out with oodles of sales, you’re just asking for trouble.

That said, Pantech Group representatives are saying that these difficulties are “temporary” and they will “grow and compete.” We’ll see.

About Michael Kwan

A freelance writer and tech geek from Vancouver. Find me at michaelkwan.com and follow me on Twitter @michaelkwan.

Check Also


Try Oculus Rift And Wii To Roam Around On The Back To The Future Hoverboard

Check out how you can fly in virtual space by using an Oculus Rift and a Wii Balance Board.


Amazon Appstore for Android Holiday Deals, Including Free Apps

There are tons of deals from the Amazon Appstore that will be offered starting now and throughout the holiday shopping season. They say that they will have "hundreds of titles that are eitehr free... or available between 50-90% off" the regular price.


Black Friday: Google Play Store Apps, Games and Content on Sale All Weekend

Case in point, if you head over to the Google Play Store right now, you'll find that Google is celebrating all Cyber Weekend with discounts on all sorts of content. This includes many popular apps and games


Black Friday Deal: Samsung Galaxy Tab 3 10.1-Inch for $100 Off

Did you manage to score any epic Black Friday deals this morning? Are you still ...


Arduino Co-Creator Releases Plans for $200 DIY Mobile Phone

Mellis was one of the people who came up with the now hugely popular Arduino platform and now he has come up with plans for people to build their own cell phone for about $200 in parts.


No Discounts for Apple Black Friday, Just Free Gift Cards

If you were hoping to save yourself some cash as you brave the Black Friday shopping crowds, you'll want to go somewhere other than the official Apple Stores.