UTStarcom Signs Framework Agreement with Tongding Internet Information Co. Ltd.

Date : 09/12/2018 @ 11:00AM
Source : GlobeNewswire Inc.
Stock : UTStarcom Holdings Corporation (UTSI)
Quote : 2.98  0.0 (0.00%) @ 9:02PM

UTStarcom Signs Framework Agreement with Tongding Internet Information Co. Ltd.

UTStarcom (NASDAQ:UTSI)
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UTStarcom (“UTStarcom” or “the Company”) (NASDAQ:UTSI), a global telecommunications infrastructure provider, today announced that the Company has formed a strategic partnership with Tongding Internet Information Co., Ltd. (“TD” or “the Partner”), a Shenzhen Stock Exchange listed company since October 2010, to jointly market and distribute the respective companies’ products and services in China and international markets.  Based in Wujiang, China, Tongding Internet Information Co., Ltd. specializes in the research and development, manufacturing, sales and distribution of communication cables and optical fibers.  TD’s main products include optical fibers, urban communication cables, communication optical cables, railway signal cables, rail transit cables, radio frequency (RF) cables, optical instruments, electromechanical communication equipment, and ancillary products.  TD is also involved in mobile internet and Internet of Things application.Upon the formation of this strategic partnership, UTStarcom and TD intend to focus on developing their optical fiber cable businesses in India as well as marketing and selling UTStarcom’s flagship PTN and SyncRing products in China.  UTStarcom’s CEO, Mr. Tim Ti commented, “We are excited to partner with Tongding to further capture our business opportunities around the world. The partnership enables both companies to fully leverage our combined sales channels, market presence, customer base and an expanded portfolio of products. We look forward to building a long and productive relationship with Tongding.”  About UTStarcom Holdings Corp.UTStarcom is committed to helping network operators offer their customers the most innovative, reliable, and cost-effective communication services.  UTStarcom offers high performance advanced equipment optimized for the most rapidly growing network functions, such as mobile backhaul, metro aggregation and broadband access. UTStarcom is further leveraging its technology expertise to bring smart networked products to new applications, such as its GoBox automated refrigerated dispenser for retail stores.  Based in Hangzhou China, UTStarcom has operations and customers around the world, with a special focus on Japan and India.  UTStarcom was founded in 1991 and listed its shares on the Nasdaq Market in 2000 (symbol: UTSI).For investor and media inquiries, please contact: UTStarcom Holdings Corp. Tel: +852-3951-9757 Ms. Fei Wang, Director of Investor Relations Email: utsi-ir@utstar.com In the United States: The Blueshirt Group Mr. Ralph Fong Tel: +1 (415) 489-2195 Email: ralph@blueshirtgroup.com

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