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|Public (NASDAQ: UTSI)|
|William Wong, CEO;
Robert Pu, CFO
|Revenue||$320 Million USD (2011)|
|$13 Million USD (2011)|
Number of employees
The company was founded in 1991 by Hong Liang Lu, a Chinese-born, American-educated entrepreneur, as Unitech Telecom. In its early years, the company was focused on the telecommunications markets in China. In 1995, Unitech merged with Starcom Networks, founded by Ying Wu and Chauncey Shey, to form UTStarcom. After several years of trying to build its business in China, UTStarcom launched the Personal Handy-phone System, also known as the Personal Access System. is a scaled-down version of a cellular network and had 56 million subscribers in China. UTStarcom went public in March 2000. The IPO and a series of acquisitions helped the company expand its business and technology beyond its base in China to other emerging economies in Asia and Latin America as well as to Japan, the United States and Europe. Between 2002 and 2004, UTStarcom acquired several companies to expand its technology portfolio and market opportunities in areas such as handsets, CDMA technology, broadband and IP-based communications.
In June 2008, UTStarcom expressed their intent to sell their mobile unit.
Peter Blackmore assumed the role of president and CEO as of July 1, 2008 – replacing Hong Liang Lu, who went to serve as the executive chairman of UTStarcom’s board. Peter Blackmore served on the board of directors at UTStarcom, Inc. as well as the board of directors at MEMC.
UTStarcom sold its Personal Communications Devices to AIG Investments in July 2008.