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restructuring posts

Samsung 'restructuring' handset division, hints at Armani partnership

by Darren Murph posted Aug 3rd 2007 @ 5:15PM

In the wake of increased competition from Motorola and Nokia in particular, Samsung is reportedly "restructuring its handset division," which will aim to find "new sources of revenue, realigning businesses, and cut costs." As expected, the move will also involve a number of "personnel reshuffles," but a Samsung spokesman was quoted as saying that there won't be any "forceful" job cuts. Interestingly, we're hearing further details that the firm is indeed courting the idea of partnering with "luxury name brands such as Italian fashion house Armani to develop premium brand phones," and considering just how hot avant-garde mobiles have been of late, we certainly don't think that's a bad idea.

[Via JustAMP]

Pantech restructuring underway

by Chris Ziegler posted May 1st 2007 @ 1:02PM

Sloughing off your CEO, getting in the door in a big way with AT&T, and continuing a focus on crazy design are all positive indicators for a down-but-not-out manufacturer looking to break into the elite Big Five, but at the end of the day, there's nothing like a little cold, hard cash to get things kick-started. To that end, Korea Development Bank has hooked up with a bunch of creditors to provide Pantech with 120 billion won (about $129 million) to get back on its feet with payments deferred through 2011 (can we get hooked up with something like that for our car loan?). Pantech's restructuring will ultimately result in some layoffs, sales of non-critical assets, and a massive share consolidation that'll (somehow) result in the company raising about 151 billion won (about $163 million), while corporate parent Pantech & Curitel will raise another 305 billion won (about $328 million). It's all Greek to us, but as long as it doesn't result in a delay to our low-end 3G love on AT&T, we're cool. Is that too much to ask? [Warning: subscription required]