LG to buy KTF mobile phone manufacturing sector against Samsung, Pantech

This Thursday, the world's fourth largest mobile phone manufacturer LG said, is to buy South Korean mobile operator KTF mobile phone manufacturing sector that further consultations with the latter.

Industry analysts said, KTF mobile phone sector market value of about 150 billion won ($153 million 900 thousand), in which the acquisition, LG will be in with the local mobile phone manufacturers Samsung and Pantech competition in a more favorable position.

LG wants to gain control of the KTF mobile phone sector, but the size and amount of the transaction is not yet determined.

A LG spokesman said that the two companies have signed a memorandum of understanding.

KTF is currently the second largest mobile phone operators in South Korea, with its mobile phone sector KTF Technologies shares of the company, a total of 73%. In 2005 the Department sold a total of 800 thousand mobile phone products.

Earlier, the global competition with NOKIA, Motorola and Samsung LG has said it plans to sell 70 million phones in 2006, compared with the 55 million in 2005, up by 27%.