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Strategies & Market Trends : Technical analysis for shorts & longs

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Dec 31 4:00 PM EST

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To: Johnny Canuck who wrote (38777)	1/8/2003 1:26:13 PM
From: Johnny Canuck	Read Replies (1) of 69351

UTStarcom inks US$47 mln deal with China Telecom Wednesday January 8, 4:34 am ET Reuters HONG KONG, Jan 8 (Reuters) - UTStarcom Inc (NasdaqNM:UTSI - News) said it signed a deal to provide US$47 million in telecoms equipment to China, in the latest of a flurry of agreements worth a combined US$335 million over the last four months. ADVERTISEMENT <http://us.a1.yimg.com/us.yimg.com/a/ya/yahoo_finance/lrec_ticker_02.gif> Shares in California-based UTStarcom rose 3.2 percent on Nasdaq on Tuesday after it announced the deal with China Telecom (HKSE:0728.HK - News) to close at US$21.83, near a 52-week high. The company's stock has climbed steadily from a low of US$12.21 in early September. Under the latest deal, UTStarcom will supply equipment for China Telecom's networks in Jiangxi and Zhejiang provinces. UTStarcom's other main client in the string of recent China deals is China Netcom, China's number two fixed-line telephone company after China Telecom. Both China Telecom and China Netcom are using UTStarcom equipment to expand their wireless local telephone services, which use fixed-line infrastructure to provide mobile-like phone services within individual cities. Neither China Telecom or Netcom is currently permitted to offer true mobile services, which can accommodate roaming from city to city on a single handset. But both companies have used the UTStarcom personal access system (PAS) technology to partially get around the restriction. Both companies expect to enter the true mobile market after China issues a new round of third-generation cellular licences as early as this year. Since September, UTStarcom has announced at least eight deals worth at least US$30 million to sell telecoms equipment to China Telecom and Netcom.

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