- Pantech Slim-Series models selected as official handsets for week-long event
- Pantech focused on increasing share of Russian premium handset market
SEOUL, October 31st, 2005: Pantech - South Korea's second biggest mobile
phone manufacturer - today signposted its intentions to further target
the premium handset market in Russia, with the announcement of its
sponsorship of Fashion Week in Moscow 2005, the keynote event in the
Russian fashion industry calendar.
The move comes as part of a business development strategy by Pantech to
increase its 8% share of the rapidly growing Russian premium handset
market by developing close associations with landmark cultural events to
boost the profile of the company's brand throughout Russia.
The four Pantech Slim-Series models - the PG-1400, the PG-1500, the
PG-3500 and the PG-3600 - were selected as the official handsets for the
Fashion Week in Moscow and were showcased by the famed Russian fashion
designer Alexander Terekhov to great public acclaim.
Sang-Soo Lee, Vice President & CMO, Pantech Co., said: "Our relationship
with Fashion Week in Moscow 2005 has given us an innovative platform
from which to showcase our distinctive, advanced design concepts. It has
also provided us with the opportunity to identify our brand with one of
the more celebrated cultural events in Russia".
"We have ambitious plans for the expansion of our operations in Russia.
We believe that our Slim-Series range offers the ideal choices for
fashionable consumers in this market who are looking for slim, stylish
yet durable handsets with exceptional functionality," said Mr. Lee.
Pantech has increased its brand awareness and unit sales dramatically in
Russia since entering the region last year. Data from German market
research institute, GfK, based on research carried out in March 2005,
shows that Pantech has built up aided brand awareness levels of 53%
among Russian consumers, while unaided brand awareness levels of 10%
also compare favorably with its competitors.
Pantech expects to sell more than 1.5 million handsets in Russia this
year and aims to be one of the top five suppliers in the market in 2006.
"In the design and production of mobile phones, as in fashion, a select
few brands lead the market as the ultimate arbiters of style and
innovation. Pantech is becoming increasingly identified as being one of
those brands," said Mr. Lee.
Pantech has been recognized on several occasions by industry peers for
design and technology leadership. In 2005, Pantech received honors from
both the iF Design Awards, from the German International Forum, and the
international Red Dot Communications Design Awards
About Pantech:
Pantech, through its affiliates - Pantech Co., Ltd., Pantech&Curitel
Communications, Inc. and Pantech C&I Inc - is ranked second in the South
Korean domestic market and marked as the seventh largest mobile handset
manufacturer in the world. Pantech is also recognized as one of the
world's fastest growing providers of mobile communications solutions.
Pantech has been responsible for a number of breakthrough innovations in
the mobile technology sector, including the introduction in 2004 of the
world's first fingerprint recognition camera phone, as well as award
winning camcorder and MP3 phones. In May 2005, Pantech affiliate
Pantech&Curitel Communications, Inc. announced the acquisition of SK
Teletech Co., Ltd., the fourth largest handset manufacturer in the
Korean market. SK Teletech was originally the handset-manufacturing arm
of SK Telecom, number one mobile network operator in Korea. Under the
terms of the acquisition agreement, Pantech and SK Telecom plan to
collaborate in joint research and development initiatives and will work
together in the global expansion of their respective businesses into
overseas markets, The SKY brand, marketed by SK Teletech, is the most
popular premium handset brand in Korea. In August 2005, to facilitate
the goal of Pantech becoming one of the world's top five mobile handset
brands, Pantech Co. and SK Teletech were merged under the Pantech
organization. Pantech collectively has about 5,000 employees and a total
of 20 regional sales offices worldwide. Pantech - For more information
on Pantech, please visit: http://www.pantech.com <http://www.pantech.com/> or
http://www.curitel.com <http://www.curitel.com/>