Samsung today confirmed that it has made a $48 million investment in competitor Pantech, which gives it 10% ownership of the company.
“The investment is aimed at solidifying our relationship with Pantech, a key component customer of Samsung,” said the company in a statement. “Samsung will have no involvement in Pantech’s business management in any way or form.”
The two competitors already collaborate on semiconductor and display technologies.
Pantech sells a mix of feature phones and smartphones in the U.S. through AT&T.
