One of MVNO Helio's handset vendors is in financial trouble. South Korea's VK Mobile has been unable to obtain any outside financing so its creditors have put the handset and battery maker in a debt workout program. The vendor has distribution deals with both Helio and Vodafone, but has struggled with the ever increasing competitive market and currency fluctuations and hasn't been able to keep a profit from its international sales.
For more about VK Mobile's financial problems:
- read this report from cellular-news.com