Pantech has bounced back from financial disasterbelow new ownership to unveil a brand-new smartphone.
The corporate in a press convention in Seoul on Wednesday unveiled the IM-100, which celebrates its 13th-hour rescue for the explanation thatcall sounds like "I'm back" when read in Korean.
It is Pantech's first new smartphone in 19 months and the primarybecause the Solid-Optis consortium bought the manufacturer in October closing year.
Pantech used to be once Korea's No. 2 smartphone maker, yet its focal point on top rateunits proved disastrous, so the IM-100 shifts solution to more reasonable models.
It prices W449,000, shedding to around W300,000 with programsintroducedthroughcellularservices (US$1=W1,155). It has a 5.15-inch screen and 32 GB memory.
Pantech also showcased what it calls the "Stone" as a better halfinstrument -- a wireless charger and 2.1-channel Bluetooth speaker in one. For state-of-the-art simplicity of design, the IM-100 bears no logo. It is going tomove on sale thru KT and SK Telecom next week.
The Solid-Optis consortium purchased Pantech when creditors had nearly given up. It has since laid off masses of staff, and the long run of the visitors hinges on whether the IM-100 sells or not.
Pantech hopes to shift 300,000 devices in Korea.
Head of product building Kim Tae-hyup said, "Rather than compete with inexpensive models from other manufacturers, we situated the IM-100 in the mid-range segment. We plan to roll out new models each six months and are in talks over exports to the U.S., Japan and Indonesia".
But the streetforward is tough. Sales of inexpensive phones were soaring around the sector since last year now that the era is mature and differences between models transform negligible.
Pantech should also compete in marketing alongside industry heavyweights who have extra money to spend, but the agency believes there are committedloversavailable in the market and hopes it can attraction to younger, style-conscious consumers.