Pantech expects USD60 million in revenues

12 Jul 2005

Handset manufacturer Pantech has announced that it expects to sell over 400,000 handsets in Brazil by the end of 2005, and post revenues of USD60 million for the year. The company went on to say it expects to see sales increase to 900,000 handsets in 2006 and 1.5 million in 2007. It plans to invest USD5 million in its operations this year, USD3 million of which will be spent on equipment and the rest in marketing. One of its major clients in Brazil is Brasilcel (Vivo), which recently awarded Pantech a contract for 200,000 CDMA handsets.