QualityStocks would like to highlight UTStarcom (NASDAQ: UTSI), 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.
In the company’s news Friday, UTStarcom announced that it has won two new contracts that will support its IPTV network expansion with Fujian Telecom and Zhejiang Telecom, provincial subsidiaries of China Telecom. UTStarcom currently serves nearly 1 million IPTV users in Fujian and approximately 650,000 IPTV users in Zhejiang. Per the Zhejiang Telecom contract, UTStarcom will build new IPTV 2.0 platforms in the cities of Wenzhou and Taizhou. In addition, UTStarcom will expand Fujian and Zhejiang Telecom’s respective network capacities and storage capacities for their IPTV systems.
In 2010, the UTStarcom built six IPTV broadcast control platforms. For 2012, the company is positioned to continue its growth pattern with plans. “We are excited to have won these two contracts after a rigorous nationwide testing and bidding process,” UTStarcom president and CEO Jack Lu stated in the press release. “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.”
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
