LG acquisition of rival Pantech isn’t happening, company says
Pantech and LG have long been adversaries in the cellphone market before the age of iOS and, subsequently, Android. Of course, it’s clearer nowadays to see who’s on top of consumers’ minds, but the brands are still alive to certain extents — Pantech filed for bankruptcy in 2014 and was picked up by a local tech consortium.
However, rumors brought about to the Aju Business Daily had LG talking with Pantech about some form of new partnership on mobile, perhaps even leading up to an acquisition of the ailing group. One alternate configuration would be to have Pantech act as an ODM for low-end phones while LG concentrated focus on the high-end releases.
LG has vehemently denied the claims, but that didn’t stop investors from buying up stock, rocketing share prices up by 6 percent in early trading today.