Pantech laid out its business map - the local smartphone business, overseas IV business, IoT and wearable device - at the management press briefing on Tuesday.
For starters, the company plans to secure royal clients in the local market with limited number of smartphones and to keep its technology and marketing trends at an advanced level.
Regarding overseas business, it plans to push ahead with low-risk business in advanced markets while doing business together with local companies in the form of joint venture in emerging markets.
This year, the tech firm is set to develop devices for service & content needs, set up a localized joint venture through technology transfer and to build management system for electronic manufacturing service.
Through the plan, it is poised to jump into the Indonesian market and to diversify its business through joint venture in the nation after 2017.
As for IoT business, it plans to secure cost competitiveness through module business and unveil new IoT device in 2017. It also plans to expand into new businesses with a combination of communications and sensors.
Pantech also plans to expand its business through IoT device and secure key technologies, which give them an upper hand in the market. Moon Ji-wook, head of Pantech said, "We aim to achieve 5 percent level in operating profits and 1.5 trillion won in sales by 2018."
