UTStarcom Updates Financial Release Schedule

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Price: $3.18 -3.34%

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HANGZHOU, China, May 20, 2020 (GLOBE NEWSWIRE) -- UTStarcom (“UTStarcom” or the “Company”) (NASDAQ: UTSI), a global telecommunications infrastructure provider, today announced the intention to report its financial results for the first six months ended June 30, 2020 in August 2020. As such, the Company will not report its financial results for the first quarter 2020 ended March 31, 2020.

As highlighted in the March 27, 2020 press release reporting the unaudited financial results for the fourth quarter and full year ended December 31, 2019, UTStarcom's Board of Directors is evaluating all strategic alternatives available to the Company. With the evaluation underway, the Company is suspending quarterly financial reporting and earnings conference calls.

About UTStarcom Holdings Corp.

UTStarcom is committed to helping network operators offer their customers the most innovative, reliable and cost-effective communication services. UTStarcom offers high performance advanced equipment optimized for the most rapidly growing network functions, such as mobile backhaul, metro aggregation and broadband access. UTStarcom has operations and customers around the world, with a special focus on Japan and India. UTStarcom was founded in 1991 and listed its shares on the Nasdaq Market in 2000 (symbol: UTSI). For more information about UTStarcom, please visit http://www.utstar.com.

For investor and media inquiries, please contact:

In China:

UTStarcom Holdings Corp.Tel: +86 571 8192 8888

Ms. Ning Jiang, Investor RelationsEmail: [email protected]/[email protected]

In the United States:

The Blueshirt Group Mr. Ralph FongTel: +1 (415) 489-2195Email: [email protected]