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Korea¡¯s third-largest handset maker Pantech could take over Germany¡¯s Siemens AG¡¯s cell phone unit as well after agreeing to buy SK Teletech from Korea¡¯s largest mobile operator SK Telecom, the Korea Economic Daily reported in its Friday online edition.
The daily quoted an unidentified Pantech official as saying, ¡°We have recently received a proposal from Siemens to purchase its handset unit and are now reviewing the proposal to see whether it will help our global strategy.¡±
The same taskforce that was in charge of the SK Teletech purchase is studying a possible takeover of the German company, the report added. It also said any Pantech takeover of Siemens following the SK deal would have a significant impact on the mobile phone market, adding the company had been looking for link-ups with international mobile phone makers to rank among the top five handset makers in the world by 2007.
Siemens is the fourth largest handset maker in the world with a 7.5 percent market share, following Nokia, Motorola and Samsung Electronics, but due to poor sales of new products posted deficits for the fourth consecutive quarter, the report said.
(englishnews@chosun.com )
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