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UTStarcom Holdings Corp Ordinary Shares (Cayman Islands) - $UTSI STOCK NEWS

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News
Rhea-AI Summary

UTStarcom, a global telecommunications infrastructure provider, filed its Annual Report on Form 20-F for the year ended December 31, 2023 with the U.S. Securities and Exchange Commission. The report is accessible online at SEC EDGAR website and UTStarcom's website. Interested parties can request a free hard copy.

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UTStarcom appoints Dr. Yong Wang as new independent director, replacing Dr. Jintong Lin who resigned from the Board of Directors, bringing extensive legal and risk management expertise to enhance corporate governance.
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UTStarcom (UTSI) reported unaudited financial results for 2023, showing revenue growth and progress in 5G transport network solutions. Despite increased revenue, the company faced operating losses and a decline in cash balance.
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-0.77%
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UTStarcom reports unaudited financial results for 1H 2023, with a decrease in revenue of 13.3% and a net loss of $2.0 million. Gross profit increased by 38.5% to $1.8 million. The company collected $5.80 million from BSNL, leaving $5.75 million outstanding. The market share in China is being expanded with MII certification and progress in Smart Cities and Digital Construction opportunities. Cash balance is $60.6 million.
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4.16%
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UTStarcom Holdings Corp Ordinary Shares (Cayman Islands)

Nasdaq:UTSI

UTSI Rankings

UTSI Stock Data

23.87M
3.04M
66.7%
1.88%
0.15%
Other Communications Equipment Manufacturing
Manufacturing
Link
United States of America
BEIJING

About UTSI

utstarcom utstarcom delivers cutting-edge packet optical transport and broadband access solutions coupled with a carrier grade software defined networking platform to give telecommunications carriers the power to efficiently serve the rapidly growing demand for bandwidth from cloud-based services, mobile, streaming and other applications. our goal is to help network operators simplify the process of offering new revenue-generating products and services and run their networks more efficiently. this goal inspired our “simple network, simple operation” philosophy of product design whereby we help customers eliminate unnecessary layers of technical and operational complexity. as a result, network operators can reduce capital expenditures and operational expenses, while maintaining a high level of network reliability, performance and security. we leverage our extensive expertise in packet optical transport, broadband access, wi-fi and next generation video platforms, to develop state-of-the