Business
UTStarcom Reports Unaudited Financial Results for Second Half and Full Year 2024
HANGZHOU, China, March 24, 2025 (GLOBE NEWSWIRE) -- UTStarcom (the Company) (NASDAQ: UTSI), a global telecommunications infrastructure provider, today reported its unaudited financial results for the six months and full year ended December 31, 2024, and provided a business update. Business Update China Telecom Research Institute RFP win. The second half of 2024 marked a major milestone for UTStarcom's 5G transport network portfolio. The Company’s commitment to the development of a next generatio
About this update from Utstarcom Holdings Corp
[{"type":"image","alt":"UTStarcom Holdings Corp.","displaySize":"","headline":null,"caption":"UTStarcom Holdings Corp.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":86,"url":"https://media.zenfs.com/en/globenewswire.com/1c5c766c58e9d20088e298994758ac8a"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/lZygKI86TjoO8jLFxetDRQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTEyMDtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/1c5c766c58e9d20088e298994758ac8a","width":300,"height":86}},"lazy":false},{"type":"text","content":"HANGZHOU, China, March 24, 2025 (GLOBE NEWSWIRE) -- UTStarcom (the Company) (NASDAQ: UTSI), a global telecommunications infrastructure provider, today reported its unaudited financial results for the six months and full year ended December 31, 2024, and provided a business update.","length":281,"tagName":"p"},{"type":"text","content":"Business Update","length":15,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"China Telecom Research Institute RFP win. The second half of 2024 marked a major milestone for UTStarcom's 5G transport network portfolio. The Company’s commitment to the development of a next generation disaggregated 5G transport network solution and our cooperation with some of the major mobile operators in China, culminated in a significant win of a multi-million dollar China Telecom Research Institute RFP for manufacturing 5G transport network routers. The equipment is intended for use on China Telecom’s STN network – China Telecom’s metropolitan area network, which is crucial for supporting its 5G mobile network services, as well as enterprise, broadband, cloud and other services. The RFP covers the manufacturing of a substantial quantity of carrier-grade disaggregated routers hardware. The related frame agreements were signed in early 2025. Specific product quantities will be defined in purchase orders expected throughout 2025.","length":951,"tagName":"p"}]},{"val":[{"type":"text","content":"Cooperation with a Mobile Network Operator customer in Europe. UTStarcom completed the development of a customized version of the NG-PTN product, NetRing TN704ES, specifically tailored to better support the customer's future network expansion plans. Samples of the product have been provided to the customer for testing. We anticipate receiving orders for this product in ...