UTStarcom wins SLT IPTV contract

UUTStarcom Inc. said Tuesday it has signed a new contract to supply its Internet protocol television equipment to Sri Lanka Telecom Public Ltd. Co.

The Alameda company's "multi-million dollar" agreement with Sri Lanka Telecom partner Just In Time Holdings Pvt. Ltd. will eventually support the delivery of voice, Internet, and television services to Sri Lanka Telecom's 1.3 million customers on the south Asian island.

The initial rollout of UTStarcom Inc. (NASDAQ: UTSI) equipment is designed to support about 100,000 subscribers over the next two years. It will also enable the company to provide video services to future subscribers over copper lines in the next three to four years, it said.

Source: bizjournals

UTStarcom

Fortune 1000 company that specializes in IP-based networking products for telecommunications companies and service providers. Its core markets are multimedia communications and broadband, including IP communications and entertainment (IPTV), next generation broadband networks and optical network solutions. It also sells handsets and other consumer products including DSL modems and voice over IP terminal adapters. It has a large customer base in Asia, particularly in China, where it manufactures the majority of its products and where most of its employees are located. It also has business operations in the United States, India and Japan as well as research and design operations in the United States, China, Korea and India.

History of UTStarcom

The company was founded in 1991 by Lu, a China-born, US-educated entrepreneur, as Unitech Telecom. In its early years, the company was focused on the telecommunications markets in China. In 1995, Unitech merged with Starcom Networks to form UTStarcom. After several years of trying to build its business in China, UTStarcom launched the Personal Handy-phone System (PHS), also known as the Personal Access System. PHS is a scaled-down version of a cellular network and has 56 million subscribers in China. UTStarcom went public in March 2000. The IPO and a series of acquisitions helped the company expand its business and technology beyond its base in China to other emerging economies in Asia and Latin America as well as to Japan, the United States and Europe. Acquisitions Between 2002 and 2004, UTStarcom acquired several companies to expand its technology portfolio and market opportunities in areas such as handsets, CDMA technology, broadband and IP-based communications.

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Stock is doing well this year

Stock up 100%

Note: i do not own UTStarcom(NASDAQ:UTSI) or SLT(COL:SLTL) shares