Business
UTStarcom Reports Unaudited Financial Results for Second Half and Full Year 2022
HANGZHOU, China, March 24, 2023 (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, March 24, 2023 (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 and full year ended December 31, 2022, and provided a business update. Business Update Progress in Collaboration with China Unicom Research Institute on Development of 5G Transport Network Solution. Following the completion of NOS v.1.x Phase 2 development (announced earlier), UTStarcom continued development with customer China Unicom Research Institute on a disaggregated networking solution for 5G transport networks. UT won two more RFPs from this customer in 2H 2022: an RFP for a v.2.x NOS development covering advanced features such as SRv6, the related protocol stack, various NOS platform improvements & enhancements); and an RFP to develop a disaggregated hardware platform. China Unicom Research Institute is a wholly-owned subsidiary of China Unicom, one of the major mobile network operators in China.SkyFlux UAR Disaggregated Router Platform Launch. In the second half of 2022, UTStarcom released its newest SkyFlux UAR Disaggregated Router platform, which combines the benefits of modular chassis-based hardware platforms with all the advantages of the software-centric network disaggregation paradigm. The initial release of the platform included 3 chassis-based modular disaggregated routers (SkyFlux UAR400A-04X, SkyFlux UAR500A-08X, and SkyFlux UAR500B-12X) and the SkyFlux NOS Network Operating System.Expansion order for the transport network of a Mobile Operator in Europe. In the second half of 2022, UTStarcom continued to work with a mobile operator in Europe to supply its advanced networking platform for the operator’s 5G transport network deployment. Following the orders placed by the customer in the first half of 2022, UTStarcom received an expansion order for NetRing® TN704E metro access and aggregation products in the second half of 2022.Expansion order for IMS solution deployed in India. Throughout 2022, UT received multiple expansion orders for the IMS solution deployed since 2018 by a major customer in India. The orders included hardware and software components and licenses intended to increase the solution’s subscriber capacity to meet growing customer demand.India Receivables. The Compan...