Business
UTStarcom Reports Unaudited Financial Results for Second Half and Full Year 2020
HANGZHOU, China, March 25, 2021 (GLOBE NEWSWIRE) -- UTStarcom (“UT” or the “Company”) (NASDAQ: UTSI), a global telecommunications infrastructure provider,
About this update from Utstarcom Holdings Corp
[{"type":"text","content":"HANGZHOU, China, March 25, 2021 (GLOBE NEWSWIRE) -- UTStarcom (“UT” or 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, 2020, and provided a business update. Business Update 5G Transport Solution UTStarcom collaborated with a partner to develop a state-of-the-art 5G transport solution, SkyFlux Converged Packet Transport (CPT) platform and its network management and controller, for one of the major China mobile operators’ (MNO) 5G migration. UTStarcom and its partner were recognized as qualified vendors but decided not to move forward with commercial deployment due to the small size of awarded business. In September 2020, the Company launched the solution to the global market, which combines Segment Routing/MPLS-TP tunneling, TDM-like Ethernet based on FlexE/G.mtn, highly accurate time synchronization and SDN-based network intelligence into an efficient future-proof architecture of 5G-ready transport network. The new platform includes two products, SkyFlux SPN805S & SPN803S, and a network management and controller “SOO Station R3.2”. The Company gains the market’s interest to the SkyFlux products and core CPT technologies.Development of Disaggregated Solutions for 5G Transport Networks As announced in two PRs released in Q4 of 2020, UTStarcom secured a win of a RFP for joint development of a disaggregated platform for 5G transport with one of the major telecom operators in China aiming at further mass deployment with this operator, and completed Phase 1 development and integration of the disaggregated network solution with the research institute of another major mobile network operators (MNO) in China. Both operators’ strategy is to build an open echo-system of solutions based on network disaggregation with white box router/switch and Network Operating System (NOS) for 5G transport network and other applications. The cooperation with UTStarcom is a part of this important strategy. As a sign of recognition of UTStarcom’s capability and expertise, and following the positive results achieved in 2020, both operators have decided to extend their partnership with UTStarcom and have entered into frame agreements for long-term cooperation on the development of carrier-grade disaggregated network solutions....