UTStarcom Announces Launch of iTV Media Venture in Thailand
BEIJING, Oct. 15, 2012 /PRNewswire/ -- UTStarcom Holdings Corp. ("UTStarcom" or the "Company") (NASDAQ: UTSI), a leading provider of broadband equipment and solutions, today announced that its partner, iTV Media, Inc. ("iTV Media"), a leading interactive, IP-based network solutions and service provider, has begun deploying its MeTV IPTV service in Thailand through a strategic partnership with a leading national telecommunications services provider in Thailand. UTStarcom invested in iTV Media in 2010 as part of its strategy to expand into media operational support services and is the single largest shareholder of iTV Media.
The nationwide rollout of MeTV in Thailand will enable users to enjoy rich content, including domestic and global channels, on multiple screens such as televisions, personal computers, tablets and smartphones. Subscribers will also benefit from advanced interactive TV services such as video on demand and cloud-based time shifting, which, unlike traditional television platform services, allows users to watch programs anytime. The launch of MeTV in Thailand provides iTV Media access to over 5 million Thai households, and this subscriber base is expected to increase by over 10% per year. iTV Media launched an OTT service in 2011 under the brand name of iTV.cn to provide Mandarin-language programming to the Chinese communities in North America. In Thailand, the MeTV service is carrier grade provided through close partnership with local service providers.
Mr. William Wong, UTStarcom's Chief Executive Officer, stated, "The commercial deployment of MeTV in Thailand is a critical milestone in iTV Media's growth and is an excellent example of how its IPTV service can be leveraged by telecommunications companies around the world to enhance user experience and subscriber loyalty by providing a range of services that customers are increasingly demanding. We wish iTV Media and its partner every success in the MeTV deployment in Thailand."
About UTStarcom Holdings Corp.
UTStarcom is a leading provider of broadband equipment and solutions 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. 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.
About iTV Media, Inc.
Founded in 2007, iTV Media has dedicated full efforts to the advancement of TV over IP platform and the development of terminal products. In 2010, UTStarcom invested in iTV Media and became its largest shareholder. In 2011, iTV Media launched Chinese television services in the US and Canada under the "iTV.cn" service brand and gradually expanded into the local television market there.
Based in China, iTV Media provides services to the world's Internet-based transmissions using television, computers, mobile devices and other network-related products. iTV Media offers services to various broadcasting terminals and provide viewers an all-digital, high definition, intelligent, and interactive television services.
MeTV was established in 2011 in Bangkok, Thailand as a business operation unit of iTV Media. MeTV provides and maintains the quality of TV service over IP. MeTV serves as both the exclusive provider of video programming services as well as the retail consumer video programming platform for subscribers. The programming platform licenses and acquires approximately 200 television programming channels, including local, regional and foreign Free-To-Air channels, domestic and international third party linear channels, original movie and sports channels, and diversified interactive video programming services.
This release includes forward-looking statements, including statements regarding the deployment of MeTV, the services to be provided to subscribers in Thailand, and the Company's expectation regarding the growth of the subscriber base in Thailand. These statements are forward-looking in nature and subject to risks and uncertainties that may cause actual results to differ materially. These include risks and uncertainties regarding iTV Media's ability to realize anticipated benefits of launching MeTV, UTStarcom's ability to execute on its business plan and to manage regulatory matters as well as risk factors identified in UTStarcom's latest Annual Report on Form 20-F and Current Reports on Form 6-K as filed with the Securities and Exchange Commission. UTStarcom 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 release are based upon information available to UTStarcom as of the date of this release, which may change, and UTStarcom assumes no obligation to update any such forward-looking statement.
UTStarcom Holdings Corp.
Ms. Jing Ou-Yang
FTI Consulting, Inc.
Ms. May Shen (Beijing)
Mr. Daniel DelRe (Hong Kong)
Mr. Eric Boyriven (New York)
SOURCE UTStarcom, Inc.