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Technology Stocks : UTStarcom Inc. (UTSI)

UTSI 2.460

-1.6%

Dec 29 2:20 PM EST

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From: quartersawyer	12/20/2004 5:55:29 AM
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Monday, 20 December 2004 Curitel, Audiovox to Supply 10m CDMA Phones to North America Monday, 20 December 2004 A $1.6 billion contract with Audiovox to Export 'Pantech' Handsets Pantech & Curitel, Korea's third-largest handset maker, announced Monday that it concluded a supply contract with Audiovox Communications Corporation (ACC), a subsidiary of Audiovox Corporation, to export $1.6 billion worth or 10 million CDMA handsets by the end of 2005. The cell phones will be supplied to 12 mobile carriers operating in America such as Verizon Wireless and Spint PCS. The handsets will be exported with Pantech brand or joint brand with mobile carriers on them. Pantech puts “Pantech” logo for exporting goods while using “Curitel” for domestic sales. The company said that its product line for North American consumers ranges from $130 bar-type cell phone to 300$ convergence handsets. About 35% of exported products will be such premium phones as megapixel phones, camera phones and EV-DO phones. Curitel expects to take up more than 15% of market share in North American CDMA market thanks to the contract. Pantech group plans to roll out a total of 140 types of handsets, 40 for domestic consumption and 100 for export. --------------------------------------------------- So what we see now is that UTStarcom is going to be the distributor for Pantech. This contract is a sale by Pantech to UTStarcom. Turns out that Pantech was going to buy Audiovox, but was outbid by UTSI. Revenue growth is assured, earnings not.

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