Pantech

Micromax looking to acquire Pantech

Micromax looking to acquire Pantech

India's second largest smartphone marker, Micromax Informatics Ltd has indicated that it is looking to acquire a stake in South Korean counterpart, Pantech Co Ltd in a move to exapnd its presence in the international market.

The low cost handset maker is planning to expand its presence in the upmarket segment of the global smartphone market. Pantech, which is South Korea's third largest smartphone maker, is under a debt-restructuring programme following continued losses due to increasing competition from rivals.