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Strategies & Market Trends : Greater China Stocks

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To: Julius Wong who started this subject	1/24/2003 8:08:18 AM
From: Julius Wong	Read Replies (1) of 8334

UTStarcom Doubles Profit as Sales of Phone System to China Rise By Kenneth Wong Alameda, California, Jan. 23 (Bloomberg) -- UTStarcom Inc.'s fourth-quarter profit doubled after the biggest supplier of cordless phone systems to China sold more equipment in the world's largest mobile-phone market. Net income rose to $33.9 million, or 30 cents a share, from $16.5 million, or 14 cents, in the year-earlier quarter, UTStarcom said in a statement. That's less than the 31 cent average estimate by nine analysts surveyed by Thomson First Call. Sales rose 53 percent to $197.1 million. The Alameda, California-based company installs more than half of China's Little Smart systems, which two Chinese fixed-line phone companies use to sell limited-range cordless phone services to more than 10 million people. China, which has 207 million cell- phone users, overtook the U.S. last year as the world's biggest wireless market. quote.bloomberg.com

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