Tonino Lamborghini, Dasan Networks to roll out smartphone, smart watch

[THE INVESTOR] Network equipment firm DASAN Network said on Sept. 9 that it would team up with Tonino Lamborghini to roll out smartphones and smart watches.

At a media event to announce the partnership in Seoul, the Korean network equipment manufacturer said consumers would be able to get their hands on the smart devices emblazoned with the premium Italian brand as early as this year.

“What the company wants to do is brand marketing business not a smart device business,” said Nam Min-woo, the chief executive of DASAN Networks, adding that the firm will increase its presence in the business-to-consumer sector with the luxury IT brand.

The Italian brand has produced limited smartphone models including the 88 Tauri, released in 2014 with a price tag of US$6300.

“We are aiming to offer smartphones at an affordable price for many consumers,” said Kim Tae-cheol , the CEO of Korasia, an affiliate of Dasan Networks, hinting that the anticipated gadget would not be as expensive as the 88 Tauri.

Korasia, which will receive funding from Dasan Networks, will be in charge of designing and developing the smart devices. The Italian partner will finally approve the design and distribute the products through its stores across the global market.

Dasan Networks said it has not chosen manufacturing partners, but is in talks with some mobile manufacturers in China and Korea.

CEO Nam hinted the manufacturing partners could be smaller players other than Samsung Electronics or LG Electronics.

“I don’t think Samsung Electronics would feel any need to do this collaborative business, and I am not sure whether we can work with LG Electronics,” he said.

Tonino Lamborghini is an Italian brand established in 1981 by Tonino Lamborghini, the son of Ferruccio Lamborghini, the founder of supercar brand Lamborghini.

Running a hotel chain and businesses for golf clubs and watches, its annual revenue reaches 500 billion won (US$454 million).

By Kim Young-won (wone0102@heraldcorp.com">wone0102@heraldcorp.com)