Samsung— already one of the world’s largest manufacturers— has further exerted its powerful influence in the tech world buy purchasing a 10% stake in Chinese manufacturer Pantech. The deal which is expected to be finalized by sometime in June, allows Samsung to purchase 53 billion won (approximately $48 million USD) worth of shares and helps Sammy better finance its operations and attract more investor interest going forward. Additionally, Pantech previously sourced many of its components and parts for its devices from Samsung, so the deal helps Sammy and Pantech’s relationship since Pantech buys chips and LCD units from Samsung.
Now all that’s left to do is to play the waiting game to see the imminent outcome of this deal.
source: Fox News
Come comment on this article: Samsung buys 10% share of Pantech worth $48 million