BEIJING, June 14, 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 a contract from Sri Lanka Telecom ("SLT"), Sri Lanka's leading integrated communications, broadband and backbone infrastructure services provider, to supply set-top boxes for the telecom operator's IPTV system expansion.
UTStarcom's set-top boxes, which are part of the Company's RollingStream® end-to-end IPTV solution, will enable SLT to provide a number of interactive media services, including Live HDTV, Time Shift TV and Video-on-Demand, to its customers.
"This contract is our second big win in the Sri Lankan market in the last eight months," said UTStarcom's President and Chief Executive Officer, Mr. Jack Lu. Mr. Lu continued, "it reinforces our leading presence in Sri Lanka and enhances our market position in the Asia-Pacific region. We have provided IPTV solutions to SLT since 2008 and, under this contract, will further support the client's IPTV system expansion. Our cost-effective set-top boxes will allow SLT to deliver a rich and diverse range of interactive media services across a number of devices, which we believe will attract new IPTV users and expand SLT's customer base."
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.
The Company was founded in 1991 and listed on the NASDAQ in 2000. In 2011 with a new management team, the Company revamped its growth strategy to focus 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.
About Sri Lanka Telecom
Sri Lanka Telecom (www.slt.lk) is one of Sri Lanka's most valuable blue chip companies with an annual turnover in excess of Rs 50 Billion. Sri Lanka Telecom is the nation's number one integrated communications service provider and the leading broadband and backbone infrastructure services provider in the country. Listed on the Colombo Stock Exchange, the company's market capitalization as at December 31, 2011 topped Rs 87 Billion.
SLT provides facilities and services in the areas of voice, data, video and mobile to its customers. These services, which are unmatched in scope, range from domestic and international voice, advance data transmission services which include internet services on leased lines, broadband and dial up, data circuits, and frame relay solutions to IP services such as IPVPN based on IP-MPLS technology, total corporate solutions of multiple services, satellite uplink services, IP transit, IPVPN, IPLC and international voice traffic transit services to global telecom operators and corporate, NGN services, wholesale services and mobile telephony and mobile broadband through its wholly owned subsidiary, Mobitel.
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 changes to 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 regulations and licensing requirements, as well as risk factors identified in its latest Annual Report on Form 20-F, 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. 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 the Company assumes no obligation to update any such forward-looking statement.
SOURCE UTStarcom Holdings Corp.