Pantech Aims for 5% Share

Korean mobile handset manufacturer Pantech is targeting a market share of 5% in Chile by 2007 after entering the country under an agreement with local mobile operator Claro, IT Web reported.

The agreement with Claro, formerly Smartcom and a unit of Mexico's América Móvil, is part of Pantech's latest phase of its expansion plan in Latin America.

In order to achieve the expected market share, Pantech plans to launch five different handsets during this year.

Chile has the highest level of mobile phone penetration in Latin America at 74% and approximately 12 million subscribers. The rate is expected to expand to 80% by the end of the year, according to GSM advocacy organization 3G Americas.

Movistar, owned by Spain's Telefónica, continues to lead with 45% of the market. However Entel PCS, which reported a 23% boost in subscribers during the second quarter, now holds 38%. Claro accounts for 17%.

BNAmericas.com"

Posted to the site on 24th August 2006