Micromax, India's second largest smartphone seller has been
phenomenally expanding in the global market. However, the company has
not been able to beat Samsung in the home ground. The company has
already started operating in the Russian market and now the latest
report from Reuters suggest that the India-based smartphone maker is now
looking to buy a potential amount of share from the struggling South
Korean smartphone maker Pantech.
Micromax Eyes at South Korean Smartphone Maker Pantech's Shares
The exuberant move will surely make the domestic smartphone maker a bit
more potential player in the international market. However, with regards
to the details about the share, the deal is still not vivid as of now.
The companies have not spoken about it formally as well.
Pantech, which comes from the South Korea, has already released a
number of smartphones but unfortunately it has been unable to compete
with its domestic rivals Samsung and LG.
According to the Reuters, nine creditor banks own a combined 37% of
Pantech, while Qualcomm has a 12% stake and Samsung Electronics Co Ltd
holds 10%. Thus it is evident that Micromax isn't the only company
interested in Pantech.
But it would have made a better sense if Micromax was looking for
complete buyout instead of eying at a share in the company. Micromax
could have possible used Pantech's R&D resources for its future
smartphones, if it was a total buyout. Things are pretty vague and
unclear at the moment, but more information regarding the deal is likely
to appear soon.
