BEIJING, March 27, 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, announced today it has received the China Ministry of Science and Technology's Innovation Award for the Company's integrated IPTV broadcasting control platform. The platform was designed to meet the technology and service needs of China's Triple Network Convergence Policy, which promotes the convergence of cable, Internet, and voice networks. The award was presented during one of China's most influential trade shows for cable operators, the China Content Broadcasting Network ("CCBN") exhibition, in Beijing.
The Innovation Award recognizes innovative leaders within China's cable industry. UTStarcom was selected on the basis of its design concepts, cutting-edge technology, and superior technical support. This is the fourth time the Company has received the award.
"We are honored that the Ministry of Science has again recognized us in this way. A catalyst for our growth in the cable market in 2012 will continue to be China's push toward three network convergence," said UTStarcom President and CEO Jack Lu. "The 42 new trial cities for the second phase of the convergence plan, which were announced at the end of 2011, will open up additional market opportunities for us. Our focus on the cable market continues to pay off, achieving higher margins and greater sales order bookings in 2011. This award recognizes our strong capacity and competitive advantage in serving China's cable operators."
UTStarcom's IPTV broadcasting control platform can support the content distribution functions of IPTV, iDTV and Internet TV through multiple video devices such as TVs, PCs, tablets, and mobile phones. Among the 12 first-phase trial cities in 2010, the Company built six IPTV broadcast control platforms in Beijing, Hubei, Hunan, Shandong, Shenzhen and Sichuan. The Company also established platforms in Tianjin and Hangzhou, representing a significant share of the China cable market.
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 Company's business strategy to pursue market opportunities in Three Network Convergence and how this strategy 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 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.