UTStarcom to Provide Broadband and Telecom Solutions to Affordable Housing Development in Beijing E-town Area
BEIJING, Dec. 6, 2011 /PRNewswire-Asia-FirstCall/ -- UTStarcom, Inc. ("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 entered into a strategic cooperation agreement with Beijing BDA Network and Information Co., Ltd. ("BBNI"）to provide broadband solutions and comprehensive telecom technology services for a new affordable housing development in Beijing.
UTStarcom President and CEO Mr. Jack Lu stated, "Beijing E-town's affordable housing development marks our first project with BBNI, which has shown full confidence in our solution-development and delivery capabilities given our considerable experience serving telecom and cable operators in China. The local Beijing government believes it is important to continue investing in the modernization of infrastructure and residential developments and we are pleased to be a part of that process.
"Our solutions will enhance Beijing E-town's telecommunications network by expanding functionality at a low cost of entry. The success of this project will further strengthen our relationships and presence in China," added Mr. Lu.
The affordable housing development area spans a total of 12 square kilometers. Phase I construction of approximately 3.9 square kilometers, which is scheduled to begin in early 2012, will comprise 160 residential buildings with a capacity of 18,387 households. The rest of the area is expected to be fully developed with a mix of residential and commercial buildings in the coming years. UTStarcom will mainly provide Ethernet Passive Optical Network ("EPON") solutions, Packet Transport Network ("PTN") solutions and set-top boxes to support the construction of a high-quality and reliable communications network to enable users to enjoy audio, broadband and potentially even IPTV services.
BBNI was established by the Beijing Municipality to manage and operate broadband networks and telecommunication infrastructure construction of large-scale industrial projects and high-tech developments of the Beijing E-town area.
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.
This release includes forward-looking statements, including statements regarding the implementation of the Company's EPON and PTN products in the new BEID housing development. 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 time fame and implementation of the Company's EPON products, the risks associated with delays in product deployment; 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.