Pantech&Curitel Signs Strategic Alliance Agreement with UTStarcom for Exclusive Supply of its CDMA Handsets
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SEOUL, September 26, 2006: Pantech&Curitel Communications Inc., the leading Korean handset manufacturer, today announced that it has forged a strategic alliance with UTStarcom Personal Communications, a division of UTStarcom, Inc. and a leading supplier of CDMA handsets in North America, to exclusively supply its entire range of CDMA handsets which will be sold in North America and Latin America, with the exception of Brazil.
Under the terms of the agreement, effective October 2006, Pantech&Curitel will supply UTStarcom with CDMA handsets over a three-year period. Neither GSM nor WCDMA handsets are covered by the deal.
Sung Kyu Lee, President & CEO, Pantech&Curitel Communications Inc., said: "We believe this partnership validates our advanced handset technology and applications by our peers in the industry."
"Importantly, this alliance enables us to continue our presence in North America and Latin America, allowing us to further our goal of becoming a leading global handset manufacturer," said Mr. Lee.
About Pantech:
Pantech, through its affiliates - Pantech Co., Ltd., Pantech&Curitel Communications, Inc. and Pantech C&I Co. - is one of Korea's top three mobile handset makers and is the seventh largest handset manufacturer in the world. Pantech has been responsible for a number of breakthrough innovations in the mobile technology sector, including the introduction in 2004 of the world's first fingerprint recognition camera phone, as well as award winning camcorder, MP3 and DMB phones. In 2005, Pantech affiliate Pantech&Curitel Communications acquired SK Teletech Co., the handset manufacturing arm of SK Telecom, the number one mobile network operator in South Korea. The SKY brand, originally marketed by SK Teletech as the most popular premium handset brand in South Korea, has since become part of the Pantech brand portfolio. Pantech markets its products under the SKY and Curitel brands in the domestic Korean market and under the Pantech brand overseas. Pantech collectively has approximately 3,500 employees and 21 regional sales offices worldwide. For more information on Pantech, please visit www.pantech.com.
About UTStarcom
UTStarcom is a global leader in IP-based, end-to-end networking solutions and international service and support. The company sells its broadband, wireless, and handset solutions to operators in both emerging and established telecommunications markets around the world. UTStarcom enables its customers to rapidly deploy revenue-generating access services using their existing infrastructure, while providing a migration path to cost-efficient, end-to-end IP networks. Founded in 1991 and headquartered in Alameda, California, the company has research and design operations in the United States, Canada, China, Korea and India. UTStarcom is a FORTUNE 1000 company
For more information about UTStarcom, visit the company's Web site at www.utstar.com.
Media Contacts:
Pantech
Young Cheol Ahn
ycheolan6667@pantech.com
+82-2-2030-1912
Eun Sil Koh
summer1004@pantech.com
+82-2-2030-1933
