Proving the Business Case for the Internet of Things

Pantech eyes M2M market as new growth engine

Iain Morris
October 2, 2014
Ailing South Korean smartphone maker Pantech is reportedly planning a push into the M2M sector to offset a slowdown in its handset business.

According to a report from Yonhap, the company – which is the third biggest maker of smartphones in South Korea – aims to dramatically expand its M2M activities in vertical sectors such as finance, food and healthcare.

Pantech (Seoul, South Korea) is currently in receivership, with South Korean authorities recently approving a plan to sell the business, but it apparently believes it can develop a “new growth engine” by focusing on M2M.

The company made a foray into M2M in 2012 when it provided communications modules to a security arm of Samsung (Seoul, South Korea), and it has since been supporting the operation of a real-time bus system in the country’s Gyeonggi Province.

“The company will also make efforts to utilize the Internet of Things by providing never-before-seen solutions to various segments of our daily lives,” Pantech is reported to have said in a statement, according to Yonhap. “Currently, we are establishing business partnerships in finance, food, and healthcare firms.”

Yonhap also reports that Pantech has already entered discussions with ten Japanese companies regarding the supply of its products and is keen to break into the North American and European M2M markets in the near future.

According to the report, the Japanese M2M sector is currently about six times larger than that of South Korea.

Pantech has struggled to compete with local giants including Samsung and LG Electronics (Seoul, South Korea) in the smartphone business and could attract interest from a buyer keen to enter the South Korean market.
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