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Pantech Projects 20% Rise in Sales in U.S. with Increased Handset Supply to Major Service Operators
Korea's second largest mobile phone company outlines plans at CES 2006 to become a global top five player
Seoul, South Korea - January 5, 2006:Pantech Group - South Korea's second biggest mobile phone manufacturer - today announced details of its plans to ramp up sales in the U.S. by 20% in 2006, through a greater focus on developing its brand awareness in the market place and an increase in direct supplies to major U.S. service operators.
Pantech, which is currently participating in the 2006 International Consumer Electronics Show (CES) in Las Vegas, the world's largest consumer technology tradeshow, expects to increase direct supplies to U.S. service operators by up to 70% this year through its subsidiary Pantech Wireless, Inc. in order to build its market share and brand presence in the U.S.
Dr. Moon S. Song, President & CEO, Pantech&Curitel Communications, Inc., said: "Even though we are a relatively young company, we have built a strong reputation in the provision of top quality, stylishly designed, yet affordable products to consumers. Our focus now is to broaden our global presence across all markets, particularly in the U.S.".
"Our diverse and innovative product range is expected to appeal to U.S. consumers and further enhance the presence of the Pantech brand across all 50 states. We are confident that we will experience the same success here as in other key global markets in recent years".
At CES 2006, Pantech plans to showcase its distinctive GSM slim series - the PG1400, PG1500, PG-3500, and PG-3600 handsets - aimed at the global market. Another unique GSM model - featuring a 1.5 inch 260K color main LCD with VGA camera, MP3 ringtones, photo and video caller ID - targeted at the Latin American market will also be on display.
Pantech also plans to roll out a range of cutting edge CDMA handsets in the U.S. over the coming months, including the PN-205 and the PN-212, both of which are equipped with 65K CSTN LCD, 32 polyphonic ringtones and speaker phones. The PN-212 also features a VGA CMOS camera and supports WAP, BREW and JAVA functionality.
Pantech initiated its U.S. operations in 1998 through an original design manufacturing (ODM) relationship with American electronics distributor Audiovox, and has since grown steadily, with estimated U.S. sales of seven million units in 2005.
The company has set up its U.S. subsidiary - Pantech Wireless, Inc., based in Cypress, California - to spearhead the ongoing development of its presence in the American market and has introduced a range of cutting edge technology to the U.S. market, such as the first 1.3 megapixel camera phone, the TX-120C handset, in 2004.
Established in South Korea 15 years ago, Pantech Group is now a world-class global technology enterprise. It is the second largest handset manufacturer in Korea, having grown by 66% per annum since its foundation, with a focus on the development of innovative products backed by the most advanced engineering and R&D infrastructure.
In addition to its U.S. operations, Pantech is also expanding its presence in South America. Pantech has signed handset supply agreements with Vivo, the largest wireless service provider in Brazil, and with America Movil SA, the biggest mobile service provider in Mexico, where it has built up a market share of 10% to support its growth in the wider Latin American market.
About Pantech:
Pantech, through its affiliates - Pantech Co., Ltd., Pantech&Curitel Communications, Inc. and Pantech C&I Co. - is the number two mobile phone company in South Korea and is the seventh largest handset manufacturer in the world. Pantech has been responsible for a number of breakthrough innovations in the mobile technology sector, including the introduction in 2004 of the world's first fingerprint recognition camera phone, as well as award winning camcorder, MP3 and DMB phones. In 2005, Pantech affiliate Pantech&Curitel Communications acquired SK Teletech Co., the handset manufacturing arm of SK Telecom, the number one mobile network operator in South Korea. The SKY brand, originally marketed by SK Teletech as the most popular premium handset brand in South Korea, has since become part of the Pantech brand portfolio. Pantech markets its products under the SKY and Curitel brands in the domestic Korean market and under the Pantech brand overseas. Pantech collectively has approximately 5,000 employees and 22 regional sales offices worldwide. For more information on Pantech, please visit www.pantech.com.
Media Contacts:
Pantech
In Soo Nam nam.insoo@pantech.com +822-2030-1931
Seri Yoon seriyoon@pantech.com +1-562-344-9400
Pantech Global PR Team:
In Soo Nam nam.insoo@pantech.com +822-2030-1931
Kwang Heo deltachi@pantech.com +822-2030-1932
Eun Sil Koh summer1004@pantech.com +822-2030-1933
Yu In Yang sweetyuin@pantech.com +822-2030-1934
Edelman
Charles Hogan charles.hogan@edelman.com +822-2022-8207
Jill Lee jill.lee@edelman.com +822-2022-8229
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