SK Telecom buys stake in Chinese GPS device manufacturer (China)
March 15, 2008
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China-based GPS device manufacturer E-eye High Tech has sold 65.5 per cent stake to SK Telecom for approximately $15 million. Following the deal, which has been approved by the Chinese government, E-eye High Tech has become a subsidiary of SK Telecom China Holding Company. The move will enable SK Telecom to leverage on the growing GPS market in China. The company is planning to offer GPS products and services designed for large corporate transportation and logistics customers. It will also launch GPS-enabled handsets for individual users.
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