Samsung just bought 10% of Pantech for $48 million

When you think of Korean handset makers, two names come to mind: Samsung and LG. But there’s a third called Pantech that doesn’t get a lot of attention. Why? Because Pantech sells budget phones in the United States that aren’t very impressive. In their home country however, the company makes incredible devices like the recently announced Vega Iron (pictured above).

According to The Next Web, Samsung just bought a 10% stake in Pantech for a cool $48 million. The site says the two already work closely together on chip and display technology, and the deal will “help further solidify” their relationship. Yes, it’s an odd relationship considering Samsung competes with Pantech in the smartphone business, but it’s early days, so we’re not going to see the fruits of this purchase for a while.

Personally, I’d love to see Samsung steal a bit of Pantech’s design language. The previously mentioned Vega Iron looks absolutely stunning. It might not have a 1080p display, but it doesn’t matter because the rest of the device is just so incredibly awesome.

Update: The original source of this story, Yonhap News, notes that Qualcomm owns 11.96% of Pantech, and the Korea Development Bank also owns a 11.81% chunk as well.