UTStarcom to Relocate Headquarters Back to China; to Revamp Core Services
March 25, 2010
US-based networking solution and service provider UTStarcom recently announced that the company's headquarters, originally located in the United States, will be moved to Beijing, China, with an aim to boost its market presence in China, according to chinabyte.com on March 24. In addition, UTStarcom stated that the company had appointed a new Chinese-origin CEO and the appointment will become effective after June 30, 2010, according to the same source.
After gaining venture capital of US$48.5 million from three companies, including BEIID (Beijing E-town International Investment and Development) - an investment company established by the Beijing municipal government - and two investment fund companies, Ram Max Group and Shah Capital Management, UTStarcom plans to revamp its IPTV (Internet Protocol Television), NGN (Next Generation Networks), and broadband services without specifying the details, according to the same source. To date, Shanghai Telecom, a subsidiary of China Telecom in Shanghai, has a total of one million households subscribed to its IPTV service, with nearly half of households using equipment and terminals supplied by UTStarcom, according to the same source.