BEIJING, May 29, 2012 /PRNewswire-Asia/ -- 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, announced today that it has won an expansion tender from Beijing Television ("BTV") to enhance the capabilities of BTV's existing IPTV broadcasting control platform ("IBCP"). The expanded platform will feature a new IP-based safe distribution system that will improve BTV's IPTV content-management and distribution capabilities. UTStarcom built BTV's existing IBCP in 2010 and this contract represents the first IBCP expansion project awarded to the Company.
"Our expansion project with BTV further solidifies our leading position in China's IPTV market," said UTStarcom's President and Chief Executive Officer Mr. Jack Lu. "Over the past year, we have worked together with BTV to examine its service experience in order to design an enhanced service platform that better suits the needs of the operator. As a result, the expanded platform will feature a new IP-based safe distribution system that can monitor content distribution issues in real time, as well as automatically replace weak signals whenever a problem is identified. Expansion contracts similar to this one with BTV are typically larger in scale than the initial IBCP contracts we have signed. Not only will we continue to capitalize on opportunities to build additional IBCPs, but we also anticipate similar IBCP expansion contracts in the near future."
Since 2010, UTStarcom has built ten IBCPs across China, specifically in Beijing, Chongqing, Hainan, Hubei, Hunan, Shandong, Shenzhen, Sichuan, Tianjin, and Zhejiang.
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.
UTStarcom was founded in 1991 and listed on the NASDAQ in 2000. With a new management team in 2011, the Company deployed a revamped growth strategy that concentrates on providing media operation support services through its Video Service Cloud (VSC) platform. UTStarcom 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 press release includes forward-looking statements, including statements regarding the Company's plan to build IBCPs and the Company's expectations regarding expansion contracts. These statements are forward-looking in nature and subject to risks and uncertainties that may cause actual results to differ materially and adversely from the Company's current expectations. These include risks and uncertainties related to, among other things, the ability of the Company to capitalize on opportunities to build additional IBCPs, realize the anticipated benefits from IPCB expansion contracts, successfully provide media operation support services through its VSC platform, successfully operate its new services business and execute on its business plan. The risks and uncertainties also include the risk factors identified in the Company's latest Annual Report on Form 20-F, previous Annual Reports on Form 10-K, Form 10-K/A, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K and Form 6-K, as filed with the Securities and Exchange Commission. The Company is in a period of transition and the conduct of its business is exposed to additional risks as a result. All forward-looking statements included in this press release are based upon information available to the Company as of the date of this press release, which may change, and UTStarcom assumes no obligation to update any such forward-looking statement.
