BEIJING, April 12, 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 that it has won a contract from Chongqing Radio and Television Group to build an integrated IPTV broadcasting control platform. Chongqing, one of the largest municipalities in China, is the first of the 42 new trial cities to award a contract to an IPTV solution provider. The new broadcasting control platform can support the content management and distribution needs of IPTV, Internet TV and mobile TV.
"This is a significant win for us as we were awarded the contract only after an exhaustive bidding process between six solution providers and nationwide testing of our platform's capabilities," said UTStarcom President and CEO Mr. Jack Lu. "Our RollingStream® technology system will provide Chongqing Radio and Television Group with a digital, high-definition and bi-directional IPTV broadcasting control platform that will enhance the IPTV services they provide to subscribers. The platform will continue to expand as IPTV household subscribers continue to increase in Chongqing city and throughout the regional counties and districts that comprise Chongqing municipality."
Mr. Lu continued, "This win in Chongqing strengthens our position in China's IPTV market. We believe that an increasing number of IPTV broadcasting platform tenders across the country reflects steady progress of China's three network convergence policy. We are well positioned to gain a significant share of the 42 trial cities, which will enable us to capture additional business opportunities from the national rollout expected to take place from 2013 to 2015."
Since 2010, UTStarcom has built nine IPTV broadcast control platforms across China, specifically in Beijing, Hubei, Hunan, Shandong, Shenzhen, Sichuan, Tianjin, Zhejiang and now Chongqing.
The Company will deliver a packaged solution that includes software and infrastructure development, content delivery network (CDN) support, and IPTV, Internet TV and mobile TV integration support.
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.
This release includes forward-looking statements, including statements regarding the future market and application of the Company's IPTV products, and how these products can serve its customers in the future. 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 anticipated growth in demand of IPTV, failure to deploy the products in the anticipated timeframe; 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, 6-K and Current Reports on Form 8-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.