Samsung Electronics announced on Wednesday, May 22nd, that the company invested 53 billion won (around $47.6 million USD) in Pantech, the third largest mobile maker in South Korea. The investment made, makes Samsung the third biggest shareholder within the company after the U.S. mobile chip manufacturer Qualcomm Inc and State-Run Korea Development Bank, each owning 11.96% and 11.81% stakes in the company.
According to YonHap new agency, Samsung has a strong relationship with Pantech in semiconductor and display businesses. Just last year (2012), Pantech purchased electronic parts worth 235 billion won from Samsung’s affiliates such as Samsung SDI. The current deal will solidify these ties between the two manufacturers.
Pantech is the 3rd biggest OEM in Korea after Samsung Electronics (obviously) and LG Electronics.