BEIJING, March 21, 2012 /PRNewswire-Asia-FirstCall/ -- 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, today announced it will officially launch its next generation Video Service Cloud ("VSC") platform along with several commercial services associated with the platform at the China Content Broadcasting Network ("CCBN") Exhibition, March 21-23, 2012.
The VSC platform, which the Company has been developing since 2011, is a key strategic initiative for UTStarcom as the Company accelerates its transition to providing media operation support services. Leveraging UTStarcom's Rollingstream technology, optical network infrastructure and the advanced technology of video exchange cloud, the VSC platform can store, exchange and distribute video and audio content through telecom networks, cable networks and the Internet. The VSC platform has the advantage of aggregating audio and video content which allows media operators to rapidly launch their IP video services and offer subscribers a high-quality and highly interactive experience through multiple video devices such as TVs, PCs, tablets and mobile phones.
The main services include the video distribution network ("VDN"), cloud-based B2B application services and video content exchange service. The VDN is focusing on digitalization, distribution, storage and acceleration of audio and video content with significant broadband cost savings. The cloud-based B2B video services have a wide range of value-added services such as video conferencing, online education, online office and targeted push video content for enterprise customers.
"We are excited to introduce our VSC platform and its associated commercial services at the CCBN exhibition this week. It represents an important milestone for the Company as we incorporate media operation support services into our business and strive for sustainable profitability in the years ahead," said UTStarcom CEO Jack Lu. "We have already signed a cooperation agreement with a key strategic partner, which will allow us to take advantage of the broadband backbone infrastructure of cable operators nationwide. As a result of this agreement, we will be able to provide VDN services to end-users at a very competitive price."
Mr. Lu continued, "The VSC platform will deliver greater market opportunities and increase our competitiveness as we move up the value chain and enhance our solution and service offerings. We have the ability to build on the VSC platform and expand in the future to include other value-added online applications of cloud-based B2B application services and video content exchange services that will help us achieve sustained, long-term profitability."
At the current stage, the Company has established VDN nodes in major cities in China and started VDN services to a couple of Internet TV operators on a trial basis. The Company plans to focus on the VDN service and video-based B2B application service offerings to generate a steady stream of revenues in 2012.
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, 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 future market and application of the Company's VSC products, how these products can serve its customers in the future and UTStarcom's expectations regarding the offering and expected revenues. 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 failure to deploy the VSC offering in the anticipated timeframe or manner; risks associated with delays in product development or customer acceptance; 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 and 6-K and Current Reports on Form 8-K and 6-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.