Pantech Co., the nation's third largest handset maker announced yesterday its bid to become one of the world's top five mobile phone manufacturers by 2007.
Forecasting that only 5 to 6 major players would survive in the world's handset market, Pantech's chief executive Lee Sung-kyu said the company plans to propel ourselves to the ranks of the world's top five cell phone manufacturers.
Pantech is less known to overseas consumers than Samsung Electronics Co. and LG Electronics Co., the world's number 3 and 4 cell phone vendors respectively.
Its scheduled launching of new product lines with biotechnology and nanotechnology functions is expected to boost Pantech's chances at advancing in the world market.
The chief executive also revealed that the company is negotiating the terms with America Movil, one of the leading telecommunications carriers in South America, to provide nearly 500,000 mobile phones by the year end.
America Movil has over 73.8 million subscribers across South America.
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