Pantech sells its key division

31 July 2017, 09:08 | Technologies
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The company SOLiD, the year before last, "saved" Pantech from bankruptcy and liquidation, decided to sell a key division of its own company. It is about the direction of IoT-devices, in which Pantech has accumulated a solid patent portfolio. The company often sells patents (for example, it recently bought nine patents from Apple). For IoT-business SOLiD intends to raise about 13 million dollars. Such actions of the company lead analysts to the conclusion that the purpose of buying Pantech for SOLiD was not the restoration of the company, but the sale of its intellectual property. This is also indicated by constant staff reductions: for the year, 90% of Pantech employees were laid off. Now there are about forty.




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