UTStarcom Holdings Corp (UTSI) News & EventsUTSIUTStarcom Holdings Corp

UTStarcom CFO Dan Xie Resigns, Ying Kang Joins as Assistant VP of Finance

UTStarcom announced that Dan Xie will no longer hold his role as CFO effective August 21. Following this adjustment, Dan will serve as VP to oversee the company's India and Japan operations. Concurrently, Ying Kang joined the company and holds the position of assistant VP of finance, effective August 13, reporting to CEO directly and will assume full oversight of the finance department starting August 21. The board of directors has approved the above changes on August 11.

UTStarcom reports FY24 EPS (48c) vs. (42c) last year

Reports revenue $10.9Mvs. $15.8M last year. UTStarcom's CEO Hua Li commented, "We have made important progresses by winning RFP from one of the major telecom operators in China; and we are also enhancing our co-operations with other business partners to expand the deployment of our products. We expect these progresses will bring improvements to our business."

UTStarcom wins project from Guangdong Research Institute of China Telecom

UTStarcom announced that it has been selected as a winner of the RFP "Self-developed STN-A Equipment Hardware Production and OEM Procurement Project" from Guangdong Research Institute of China Telecom for manufacturing of disaggregated router hardware platforms intended for use on China Telecom's STN network - China Telecom's metropolitan area network, which supports its 5G mobile network services, as well as enterprise, broadband, cloud and other services. China Telecom Research Institute is an innovative professional technology research institution of China Telecom, one of the major telecom network operators in China. The RFP covers the manufacturing of a large number of STN-A1 and STN-A3 carrier-grade disaggregated routers hardware. The project is divided into two packages, with UTStarcom awarded a separate frame contract for each package with specific router quantities to be determined in purchase orders that will follow: Package 1: Manufacturing of STN-A1 routers. UTStarcom was awarded 70% of this package. Package 2: Manufacturing of STN-A3 routers. UTStarcom was awarded 100% of this package. This new contract builds upon UTStarcom's ongoing collaboration with China Telecom Research Institute, which has focused on developing a "white-box" disaggregated router platform optimized for 5G transport networks as announced before.