By Bahk Eun-ji
SK Telecom, one of the nation's largest mobile carriers, said Wednesday that it submitted a letter of intent to acquire iRiver, a maker of digital audio players and other portable media devices, to Vogo Fund, the largest stakeholder of the company.
Two Japanese audio manufacturers and a domestic private equity fund also took part in the bidding for iRiver.
An SK Telecom official said the company seeks to take over iRiver to boost its "appcessory" business, a compound word formed from "app" and "accessory" ― combined devices for tablet PCs or smartphones, that interact with matching apps to provide new functionality.
SK Telecom has been selling the devices, such as Smart Beam, a 4.5 cm battery-powered and cube-shaped pico projector, since last year.
It has also provided Smart Mirroring service, a device that mirrors the screens of smart gadgets such as smartphones and tablet PCs on TV since last month.
In related deals, SK Telecom recently signed a memorandum of understanding with local audio manufacturer Anam Electronics to develop a high-fidelity (Hi-Fi) audio device.
iRiver was one of the most famous MP3 player manufacturers in Korea until the mid 2000s. Its business went downhill after the iPod produced by Apple gained popularity.
The company was sold to Vogo Fund in 2007.
Although iRiver has failed to regain its reputation, it has received favorable reviews for decent quality accompanied with fine design for portable gadgets.
Among all potential suitors, SK Telecom is known as the leading contender because of its funding capability.
SK Telecom, one of the nation's largest mobile carriers, said Wednesday that it submitted a letter of intent to acquire iRiver, a maker of digital audio players and other portable media devices, to Vogo Fund, the largest stakeholder of the company.
Two Japanese audio manufacturers and a domestic private equity fund also took part in the bidding for iRiver.
An SK Telecom official said the company seeks to take over iRiver to boost its "appcessory" business, a compound word formed from "app" and "accessory" ― combined devices for tablet PCs or smartphones, that interact with matching apps to provide new functionality.
SK Telecom has been selling the devices, such as Smart Beam, a 4.5 cm battery-powered and cube-shaped pico projector, since last year.
It has also provided Smart Mirroring service, a device that mirrors the screens of smart gadgets such as smartphones and tablet PCs on TV since last month.
In related deals, SK Telecom recently signed a memorandum of understanding with local audio manufacturer Anam Electronics to develop a high-fidelity (Hi-Fi) audio device.
iRiver was one of the most famous MP3 player manufacturers in Korea until the mid 2000s. Its business went downhill after the iPod produced by Apple gained popularity.
The company was sold to Vogo Fund in 2007.
Although iRiver has failed to regain its reputation, it has received favorable reviews for decent quality accompanied with fine design for portable gadgets.
Among all potential suitors, SK Telecom is known as the leading contender because of its funding capability.
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