Pantech bullish about new device

Models pose with Pantech’s latest Vega No. 6 handset during a photo session at its headquarters in Sangam-dong, northern Seoul, Monday. / Courtesy of Pantech

By Kim Yoo-chul

Pantech unveiled a new phablet Monday with a price that could arguably be its biggest attraction.

The handset vendor hopes the Vega No. 6 will generate enough of a buzz to help it further shed its old reputation of offering low-grade phones, thereby building a new reputation as a serious smartphone player.

It will cost 850,000 won, cheaper than phones with similar features like Samsung’s Galaxy S III and LG’s Optimus G, both priced at over 1 million won.

That is before subsidies from telecommunications operators kick in and mobile users will probably pay around 500,000 won when the country’s three wireless carriers release the device next month.

The Vega No. 6 runs on long-term evolution (LTE) networks and is powered by Jelly Bean, the latest version of Google’s Android mobile operating system withits 5.9-inch screen that supports full high-definition pictures and a 13-megapixel camera.

At its heart beats the quad-core Snapdragon S4 Pro processor by Qualcomm, the mobile technology giant that doubles as Pantech’s biggest shareholder.

Pantech Vice President Lee Jun-woo has touted the Vega No. 6 as one of the best smartphones on the market.

``We have sold about 900,000 of our Vega R3. So a million phones sold will be the conservative target for the Vega No. 6,’’ said Lee, adding that the new model will be the world’s top phablet supporting full high-definition pictures at the time of release.

Lee also said that Qualcomm’s decision to increase its stake in Pantech to 13.49 percent from 11.46 percent is an important development for the company. Under the deal, Qualcomm has allowed Pantech to convert around $23 million of its unpaid royalty obligations into equity.

``Pantech has so far been the first to use Qualcomm’s latest mobile application processors in our strategic models, meaning Qualcomm is Pantech’s most trusted ally. The Qualcomm investment means Pantech’s handset-making technology is highly-competitive and able to better compete with our bigger rivals,’’ Lee told reporters.

He added the two companies will collaborate on various promotional campaigns.

``We are in talks with some other firms for further investment in our company, though I can’t speak further on the ongoing business talks.”

During the last three months of 2012, Pantech reported an operating loss, extending its losing streak to a second-straight quarter.