FYI - Softbank owns most of this co.
One of the better investments - great press.
Any Chinese hands care to comment?
UTStarcom, Inc. China Facility Visited by Li Peng, Chairman of China's National People's Congress
ALAMEDA, Calif., April 5 /PRNewswire/ -- UTStarcom, Inc. (Nasdaq: UTSI - news) hosted Mr. Li Peng, Chairman of China's National People's Congress and former Premier of China, at the Company's Zhejiang province manufacturing, sales and research and development facility on March 29, 2000.
During his week-long visit to Zhejiang province, Mr. Li met with local NPC (National People's Congress) members and visited local enterprises and discussed a variety of issues, including the role of high-tech companies in the developed areas of China.
Accompanied by UTStarcom executives, Mr. Li toured the Company's Hangzhou facilities and observed the production and assembly of the AN-2000 and PAS products. Mr. Ying Wu, Executive Vice President of the Company and Chief Executive Officer of UTStarcom's China Operations, discussed the Company's products, market positioning and recent achievements. Mr. Li sampled the Company's PAS system, which was installed by the Company in December 1999 as part of the Hangzhou Telecom network, and remarked that the voice quality of the handset was impressively high. Upon learning that the system is also capable of delivering a 32K to 64K high speed data connection through its handset, Mr. Li commented that the system brings much benefit to China's rapidly growing internet market.
Mr. Li congratulated the Company on the success of its recent IPO in the United States and called it a great achievement. UTStarcom was honored by Mr. Li's visit and looks forward to maintaining a leading role in the continuing development of China's telecommunications and information industries.
About UTStarcom, Inc.
UTStarcom designs, sells, manufactures and installs an integrated suite of wireless and wireline network access systems that allows communications service providers to offer efficient and scalable voice, data and internet access services. Current product offerings include: Airstar network access system, which allows service providers to offer voice and data services over fixed wireless (WLL) and city-wide wireless (PAS) mobile networks; AN-2000, a broadband-ready access system for wireline networks; OMUX, an optical multiplexing product; and WACOS, an IP-based switch designed to deliver multiple voice and data services using a highly distributed architecture. The Netman network management system, which is integrated with the network access products, provides for centralized management of the Airstar, AN-2000 and OMUX products.
The Company's customers are public telecommunications service providers that operate wireless and wireline networks in rapidly growing communications markets. To date the market focus has been primarily on China, where growth in the communications equipment markets is being driven by government commitment to infrastructure development, strong economic growth and pent-up consumer demand.
UTStarcom was founded in 1991 and is headquartered in Alameda, California. The Company manufactures the majority of its products at two ISO9002 certified facilities located in China, and maintains sales and customer support sites throughout China. The Company's international sales group handles sales outside China and is located in the USA. UTStarcom's research and development facilities are located in the USA and China.
For more information about UTStarcom, visit the Company's website at www.utstar.com.
NOTE: Airstar, PAS, AN-2000, WACOS, Netman, and the UTStarcom name and logo are trademarks of UTStarcom, Inc. and its subsidiaries.
Forward-Looking Statements
``Safe Harbor' Statement under the Private Securities Litigation Reform Act of 1995: Any statements set forth in the news release that are not historical in nature, such as the statement that the Company looks forward to maintaining a leading role in the continuing development of China's telecommunications and information industries, are forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Potential risks and uncertainties include, but are not limited to, such factors as the risks associated with doing business in foreign countries, difficulties regarding the making of estimates and projections, the hiring of qualified technical personnel in a competitive labor market, rapidly changing technology and product obsolescence, the ability to realize cost saving or productivity gains, potential cost increases, the strength and competitive pricing environment of the marketplace, demand for and acceptance of the Company's products, difficulties of foreseeing future demand, potential non-realization of backlog, business and economic conditions such as the current industry conditions, customer order preferences, Company strategies, environmental matters, litigation and inventory obsolescence. In addition to these and any other factors mentioned elsewhere in this news release, readers should refer as well to the factors identified in the Company's Prospectus filed by the Company with the Securities and Exchange Commission.
SOURCE: UTStarcom, Inc.
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