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Pantech Denies Withdrawal From China Market

In response to local media reports that it was going to withdraw from the China market, South Korean mobile phone manufacturer Pantech says that it does plan to remain in China.

A representative from Pantech China says that Pantech has not at all withdrawn from China, and the rumor about its withdrawal will be clarified by at some time later.

However, Pantech might face a gloomy future in the Chinese mobile phone sector as a result of its bad sales performance in the past years–Pantech has already stopped its mobile phone sales in Guangdong.

Pantech entered the China market in 2005 when it aimed to occupy 5% of the mobile phone market share in China within three years. The manufacturer began suffering troubles last April due to inadequate understanding of and appropriate measures for the market here on the mainland.

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