“Tech-wise, the iPhone is not so advanced,” said S. Jay Yim, vice president of overseas marketing at Pantech. “But Apple makes up for that in content and software. As handsets look more like PCs, software gets more important.”

Indeed, Dr. Yim said that riding on Apple’s coattails may turn out to be the best business strategy for Pantech, which recently underwent a bank-led revamping. He said the hype around iPhone may open more Americans to the idea of paying more for cellphones, including the function-packed phones that Korean makers excel at building.

“In the past, U.S. consumers were unwilling to pay $300 for a phone,” Dr. Yim said. “If Apple can change their buying habits, then that would be good for us, too.”