Samsung has reportedly made a major investment in rival South Korea-based smartphone maker Pantech. Yonhap News was first to report the news and it says Samsung spent roughly $50 million for 10% of the company. Samsung’s motives are unclear, though the deal will reportedly “help further solidify bilateral cooperation in smartphone and other business areas.” Pantech is currently the No.3 phone maker in South Korea behind Samsung and LG, and the new investment makes Samsung the company’s third-largest shareholder behind Qualcomm and Korea Development Bank.
Samsung buys major stake in rival smartphone maker
Published May 22nd, 2013 6:20PM EDT
If you buy through a BGR link, we may earn an affiliate commission, helping support our expert product labs.
This article talks about:
Samsung
Zach Epstein has been the Executive Editor at BGR for more than 15 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content. Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment.
His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.
