Korea's third largest mobile phone developer Pantech has entered the Middle East GSM phone market and set up regional headquarters in the United Arab Emirates (UAE).
“We plan to enter other regional high growth markets in the Middle East and North Africa region based on our performance in the UAE,” said President and CEO of Pantech, Sung Kyu Lee.
Pantech, whose 2002 sales topped $546 million, has tied up with the UAE's business house Al-Yousuf Group to distribute its mobile phones in the country. Al-Yousuf will initially distribute two high-end Pantech phones both of which offer a market first six-way call conferencing facility and 260,000 color screen.
Pantech plans to introduce more models in the first six months of 2004 and is looking to enter other key Gulf Cooperation Council (GCC) and Middle East markets early next year. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
