Indian mobile phone manufacturer Karbonn will soon buy a South Korean mobile phone design company, reported Economic Times. It will be an all cash deal for $40 million.
“We will soon acquire 100% ownership in a reputed South Korean cellphone design house that is a specialist in Android smartphones,” Karbonn chairman Sudhir Hasija said.
Company is planning to finance the deal from the $250 million; it is getting from the PR firms over next three months. Karbonn’s in house design team will be merged with Korean firms and they will closely work with company’s software team.
Karbonn is also in contention for launching Android smartphones as well as tablets, and it would be interesting to see how this deal impacts those devices.