Employees of the South Korean handset maker have agreed to return 20 percent of their salary from December to March to help Pantech stay afloat amid rising debt and growing concerns over securing a buyer for the company.
Despite its new phablet, the Pop-up Note, selling out in half a day, the handset maker has failed to find a buyer after filing for bankruptcy earlier in August.
Having filed for bankruptcy earlier this year, ongoing troubles at Pantech have forced the company to seek a full buyout.
Despite reluctance from three major carriers, creditors have agreed to extend Pantech's deadline for debt repayment by two years, keeping the South Korean company alive for the time being.
The third largest phone maker in Korea continues to post losses while still owing debt to various entities, including Korea's three carriers.
The 3.2-inch Vybe sports a QWERTY keyboard, a 3-megapixel camera, and an intuitive user interface.
The Pantech Vybe for AT&T is equipped with a 3-megapixel camera, four-row QWERTY keyboard, and a reasonable on-contract price.
The Vybe is a competitively priced device that'll please messaging enthusiasts and smartphone neophytes who don't want high-end features.
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Korean TV networks will no longer provide content for domestic users of YouTube as of December, due to profit-sharing negotiations falling through.