UTStarcom snatches US$200 m deal
15/1/2004 15:15
Nasdaq-listed telecommunications equipment supplier UTStarcom Inc. has
gained a US$200 million worth of deal from a visiting Chinese telecom business
delegation in US, today's Sina.com reported.
The delegation, headed by
China's vice Minister of Information Industry Lou Qinqian, is on a business trip
there to purchase US telecom equipment.
Its members include China's leading
telecom operators China Telecom, China Mobile, China Unicom and Legend Group.
They signed a package of deals on Tuesday with values totaling US$2.3
billion.
The contract earned by UTStarcom is for wireless citywide phoning
system related equipment aimed to expand China Telecom's Little Smart networks
in some 10 provinces as Guangdong, Zhejiang, Jiangsu, Sichuan and
Fujian.
UTStarcom's chief executive officer Wu Ying, a Chinese student who
has started the company in US, seemed excited at the contract signing
ceremony.
Happy to win the deal, he said "the deal marks that UTStarcom has
developed into a global leading telecom equipment supplier".
He promised
further advancement this year in technology and service of Little Smart to raise
the service's brand image.
Expecting this year to see a rapid development of
Little Smart, he said "the market-oriented UTStarcom will set to bring a new
round of growth in the market with its advanced technology in the wireless phone
sector."
Jane Chen / Shanghai Daily news
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