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ALAMEDA, Calif., Jan 13, 2004 /PRNewswire-FirstCall via Comtex/ -- UTStarcom, Inc. (Nasdaq: UTSI), a global leader in IP access networking and services, today signed a new contract with China Telecom valued at $200 million for deployment of its Personal Access System (PAS™) infrastructure equipment in cities throughout twelve provinces in China. The contract was awarded during today's signing ceremony as a part of the weeklong U.S.-China Seminar on Prospects for Cooperation in Telecom and IT in Washington, D.C., led by China's Ministry of Information Industry (MII) Deputy Minister Lou Qinjian.
(Logo: http://www.newscom.com/cgi-bin/prnh/20031229/UTSLOGO )
"This contract is another example of the consistent demand for UTStarcom's PAS solutions throughout China. This deployment of PAS equipment will continue to improve the coverage and quality of PAS services, which in turn should facilitate the long-term growth of PAS in China," said Ying Wu, chairman and chief executive officer of UTStarcom China, during today's ceremony in Washington D.C. "As highlighted by this week's delegation, this contract also illustrates the positive economic relations between the U.S. and China."
This contract represents the continuation of a successful partnership between UTStarcom and one of China's largest fixed-line service providers, China Telecom. More than 20 million Chinese have subscribed for PAS service in China through China Telecom and China Netcom on networks powered by UTStarcom technology since 1998. Shipments on this contract will begin in the first quarter of 2004 to meet increased demand for high-quality voice and data services in twelve provinces throughout China, including Chongqing, Guangdong, Zhejiang, Jiangsu, and Sichuang.
PAS Wireless Access Solutions
UTStarcom's wireless network solutions enable a rapid network expansion and an easy migration from fixed to wireless networks, enabling service providers to offer wireless voice and data services within a city or community. Marketed as a low-cost investment option for wireless local telephone service, the PAS system features advanced voice and data services within a flexible network architecture that can be seamlessly integrated with future 3G and broadband technologies.
With deployments throughout Mainland China and Taiwan, Vietnam, Thailand, Africa, Latin America, and soon in the United States, UTStarcom is the leader in the worldwide PAS market.
About UTStarcom, Inc.
UTStarcom is a global leader in IP access networking solutions and international service and support. The company sells its wireline, wireless, optical and switching solutions to operators in both fast growth and established telecommunications 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 headquartered in Alameda, California, the company has research and design operations in New Jersey, China, and India.
For more information about UTStarcom, visit the company's Web site at www.utstar.com.
Forward-Looking Statements
The foregoing statements regarding the continued consistent demand for UTStarcom's PAS solutions throughout China, expected improvements of coverage and quality of PAS services and the facilitation of the long term growth of PAS in China are forward-looking in nature and are therefore subject to the risks and uncertainties that may cause actual results to differ materially. These factors include rapidly changing technology, the changing nature of China's telecommunications markets, possible delays in the system deployments or product introductions, possible downturns in the telecommunications markets both in China, the termination of new contracts, partnerships or alliances, reductions or potential cancellation or non-recognition of backlog and uncertainties, such as changes in government regulation and licensing requirements in China. The Company also refers readers to the risk factors identified in its Annual Report on Form 10-K and its Quarterly Reports on Forms 10-Q as filed with the Securities and Exchange Commission.
SOURCE UTStarcom, Inc.
Photo : NewsCom: http://www.newscom.com/cgi-bin/prnh/20031229/UTSLOGO
Chesha Kamieniecki, Investor Relations Manager of UTStarcom,
Inc., +1-510-749-1560; or media, Jeannette Bitz of Engage PR, +1-510-748-8200,
ext. 207, or mobile, +1-510-599-5499, for UTStarcom, Inc.
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