SK Telecom effectively taking over Helio

Nilay Patel
N. Patel|11.09.07

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Nilay Patel
November 9th, 2007
SK Telecom effectively taking over Helio

We knew Earthlink and SK Telecom were both planning on reinvesting up to $100M each into struggling joint venture Helio back in July, and it looks like all that recent talk about "revised governance" was on point -- the deal will effectively shift management control of Helio away from Earthlink and to SKT for the first time in Helio's history. SKT has already allocated $70M to make the move, and it's also committed an additional $100M to future handset development and marketing. No word on what other changes SKT plans to make, but we'd happy to see Helio score a much-deserved second chance.

[Via MobileTech News]
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