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(New Product) Pantech to launch new smartphone with faster memory
SEOUL, Dec. 21 (Yonhap) -- Pantech Co., South Korea's No. 3 cell phone maker, said Tuesday that it will release a new smartphone with a faster memory chip in South Korea in a bid to excel its bigger rivals in the fastest growing mobile sector.

   Slated to hit the market later this week, the Android smartphone "Vega X" is topped with DDR2 memory, which features a speed 1.5 times faster than previous smartphones using DDR1, according to Pantech. It will be released via the country's second- and third-largest mobile carriers, KT Corp. and LG Uplus Corp.

   The premium phone boasts the lightest weight among 4-inch wide smartphones available in the market, weighing a mere 119.9 grams, it said. The phone comes with an antenna that enables mobile banking and mobile payment, as well as other features South Korean consumers love, such as live TV streaming and a shortcut for taking self-portraits.
"When surfing the Internet, searching the Web, running applications or 3D games, its speed is so fast that it could threaten the existence of personal computers," Pantech Vice President Lee Eung-joon told reporters.
With its latest smartphone, Pantech is confident that its annual smartphone sales in South Korea will be tallied at 1 million by the end of the year, displacing the underperforming mobile giant LG Electronics Inc. in the country's highly profitable and fastest growing mobile segment.

   In South Korea's mobile handset market that includes basic cell phones, Pantech lags behind two mobile giants, Samsung Electronics Co. and LG Electronics.

   In 2011, Pantech expects to sell at least 8 million smartphones, including 3 million in the domestic market, company marketing head Yim Seong-Jay said.

   It will launch more than 10 new smartphone models next year, hoping to retain its lead to LG to be South Korea's smartphone runner up, he added.

The Vega X is Pantech Co.'s new smartphone with a faster memory chip. (Yonhap)