BEIJING, Feb. 10, 2011 /PRNewswire-Asia-FirstCall/ -- UTStarcom Holdings Corp. ("UTStarcom" or the "Company") (Nasdaq: UTSI) a leading provider of interactive, IP-based network solutions in iDTV, IPTV, Internet TV and broadband for cable and telecom operators today announced that it has won two new contracts to support IPTV network expansion with Fujian Telecom and Zhejiang Telecom, provincial subsidiaries of China Telecom. As part of the Zhejiang Telecom contract, UTStarcom will build new IPTV 2.0 platforms in two Zhejiang cities, Wenzhou and Taizhou.
The Company will expand Fujian and Zhejiang Telecom's simultaneous network capacities and storage capacities for their IPTV systems. Currently, UTStarcom serves nearly one million IPTV users in Fujian and approximately 650,000 IPTV users in Zhejiang.
"We are excited to have won these two contracts after a rigorous nationwide testing and bidding process," UTStarcom President and CEO Mr. Jack Lu said. "We will continue to execute against our growth strategy of serving China's telecommunications and cable customers in tandem. We are confident our IPTV platform will provide a solid foundation for the large scale deployment of China Telecom's IPTV 3.0 standard and better server the newly announced 42 three network convergence trial cities in 2012."
UTStarcom's IPTV broadcasting control platform can support the content distribution functions of IPTV, iDTV and Internet TV in a secure environment. In 2010, the Company built six IPTV broadcast control platforms, one in each of Sichuan, Shenzhen, Beijing, Hubei, Hunan and Shandong which were successfully connected with the central-level platform.
About UTStarcom Holdings Corp.
UTStarcom is a leading provider of interactive, IP-based network solutions in iDTV, IPTV, Internet TV and broadband for cable and telecom operators. The Company sells its solutions to operators in both emerging and established telecommunications and cable markets around the world. UTStarcom enables its customers to rapidly deploy revenue-generating access services using their existing infrastructure, while providing a migration path to cost-efficient, end-to-end IP networks.
Founded in 1991 and listed on the NASDAQ in 2000, the Company has its operational headquarters in Beijing, China and research and development operations in China and India. For more information about UTStarcom, visit the Company's Web site at http://www.utstar.com.
Forward-Looking Statements
This release includes forward-looking statements, including statements regarding the future market and application of the Company's IPTV products, and how these products can serve its customers in the future. These statements are forward-looking in nature and subject to risks and uncertainties that may cause actual results to differ materially. These risks include the anticipated growth in demand of IPTV, failure to deploy the products in the anticipated timeframe; risks associated with delays in product development or customer acceptance; economic issues in the identified geographic markets, and changes in government regulation and licensing requirements, as well as risk factors identified in its latest Annual Report on Form 10-K, 10-K/A, Quarterly Reports on Form 10-Q, 6-K and Current Reports on Form 8-K, as filed with the Securities and Exchange Commission. All forward-looking statements included in this release are based upon information available to the Company as of the date of this release, which may change, and we assume no obligation to update any such forward-looking statement.
SOURCE UTStarcom, Inc.