VK close to bankruptcy

Jun 27 2006 - 03:06 PM ET | Backpage, Rumor

Korean handset maker VK is reportedly amid a major cash crunch. If a loan is not paid back by tomorrow the company will be forced to go into bankruptcy proceedings. VK recently restructered and reduced its workforce.

The company is primarily unknown in the US market, but does make one US handset called the Kickflip for upstart MVNO Helio. VK also recently signed a deal with Vodafone that will bring handsets to the UK.