Just a few years Micromax Informatics has evolved from a startup into the second largest Smartphone maker in the Indian market. The Company does not intend to stop there and plans to expand its presence through the purchase of third-party assets.
Now Micromax is going to buy a stake in loss-making South Korean mobile phone manufacturer Pantech. Interest in this company has been often other companies whose names do not call the news.
Indian Smartphone manufacturer Micromax wants to buy a stake in Pantech
According to sources, The Wall Street Journal, a favorable outcome for Pantech sale of assets will be another South Korean company, but local producers are not showing interest in his compatriot. Notes that lenders are going to undertake a comprehensive assessment of business Pantech, after which will be announced their decision on the future of the company.
As of September 30, 2013 the debt was $ Pantech 1.18 billion, exceeding the total value of its assets at $ 998 million as the company loses the sixth consecutive quarter.
Analysts believe that by selling shares Micromax, company Pantech receives lucrative asset, access to a powerful retail channel partners in India. Micromax, in turn, be able to count on the opponent’s production capacity and manufacturing high-level Smartphones. Micromax recently went to the Russian market phones.