Thursday, June 17, 2004
Audiovox Sells Phone Business To UTStarcom
Posted by Janak Parekh in "NEWS" @ 12:00 PM
"Audiovox has agreed to sell its wireless handset division to UTStarcom for $165.1 million, saying it couldn't compete in an industry dominated by bigger players. Audiovox, a Hauppauge, N.Y.-based consumer electronics and communications company, said it is exiting the wireless handset business because it believes it no longer has "the capabilities to be a major player in that market". UTStarcom, an Alameda, Calif.- based company with extensive Chinese operations, said it believes the acquisition is a key milestone in its entry into the CDMA marketplace, one of the two major cellphone standards."
I'm assuming UTStarcom is going to continue supporting Audiovox's devices, including the 4100 Pocket PC Phone that AT&T carries, although their focus will continue to be the CDMA market (Audiovox sells most of their phones through Verizon). This is certainly worth watching long-term to see how it affects the US phone market.
I'm assuming UTStarcom is going to continue supporting Audiovox's devices, including the 4100 Pocket PC Phone that AT&T carries, although their focus will continue to be the CDMA market (Audiovox sells most of their phones through Verizon). This is certainly worth watching long-term to see how it affects the US phone market.
