Business
UTStarcom Reports Unaudited Financial Results for First Half of 2022
HANGZHOU, China, Sept. 02, 2022 (GLOBE NEWSWIRE) -- UTStarcom (“UT,” “UTStarcom” or the “Company”) (NASDAQ: UTSI), a global telecommunications infrastructure
About this update from Utstarcom Holdings Corp
[{"type":"text","content":"HANGZHOU, China, Sept. 02, 2022 (GLOBE NEWSWIRE) -- UTStarcom (“UT,” “UTStarcom” or the “Company”) (NASDAQ: UTSI), a global telecommunications infrastructure provider, today reported its unaudited financial results for the six months ended June 30, 2022, and provided a business update. Business Update Progress in Collaboration with China Unicom Research Institute on Development of 5G Transport Network Solution. Since 2020, China Unicom’s Research Institute has collaborated with UTStarcom to develop its own White Box Router (WBR) Network Operating System (NOS), named “CUNOS”. The recently completed Phase 2 development, which offers many new features critical for the intended use of the solution on China Unicom’s 5G networks. This important milestone opens a path for deeper cooperation on both hardware platforms and software solutions in the future, and further strengthens UTStarcom’s position in the strategic field of 5G transport networking.Award of Disaggregated Platform Design Services RFP from China Telecom Research Institute. This project is a natural milestone in the ongoing collaboration between UT and China Telecom Research Institute to develop a “white-box” disaggregated router platform optimized for use in 5G transport networks. The scope of the current project will expand the capabilities of the platform, including design of 3 new line cards for use with the white-box router platform jointly developed earlier. The Company expects to receive volume orders for white-box router products, including the new line cards, in the years ahead.Expansion order for the mobile transport network of a Mobile Operator in Europe. UTStarcom continued to collaborate with a mobile operator in Europe and received expansion orders for its advanced networking platform that supports the operator’s 5G deployment requirements. The recent expansion order included NetRing® TN700 series metro access and aggregation platform products NetRing® TN704E.Expansion order for SSTP solution deployed in India. UT received an expansion order for the SSTP Signaling Gateway solution deployed on turn-key basis since 2017 by the primary customer in India. The new order increases the solution’s subscriber capacity to meet growing customer demand.Renewal of annual maintenance contracts in our key markets. The Company renewed annual maintenance contracts with its ke...