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Pantech Puts Itself Up for Sale

Sep 26, 2014, 10:00 AM by Eric M. Zeman

Pantech, based in Korea, has staked a For Sale sign in its front lawn. The company, which declared the equivalent of bankruptcy last month, is seeking a buyer to scoop up the entire business. Pantech has been facing trouble all year long. It twice sought delays in debt payments and entered into court receivership in August. The company believes it will fetch a higher price if sold as a single entity (approx. $366 million) rather than broken up and sold in pieces (approx. $181 million). Bids for the company are due in early October. Pantech found itself unable to compete with Samsung and LG, which are also based in Korea. It faced financial losses six quarters in a row, which led to its debt problems and eventual bankruptcy.

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Comments

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bluecoyote

Sep 26, 2014, 4:25 PM

THEY SHOULD HAVE STAYED AUDIO VOX

Why did they get rid of audio vox? Everyone loved audio vox communications- nobody knows what a Pantech is.

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