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UTStarcom Inc history
UTStarcom Inc company history timeline
Lu founded a software development firm in Berkeley named Unison World, Inc., starting the company in 1983.
In 1986, Unison was acquired by Kyocera International, Inc., the United States arm of Japan-based Kyocera Corp., a technical ceramic producer that manufactured a diverse range of components.
1991 UTStarcom's predecessor, Unitech Telecom, Inc., is founded by Hong Liang Lu.
1994 Unitech Telecom completes its first full year of production, generating $4 million in revenues.
1995 Unitech Telecom and Starcom, Inc. merge, creating UTStarcom, Inc.
2000 UTStarcom completes its initial public offering of stock.
UTStarcom reaped the rewards, reaching nearly $1 billion in revenues in 2001 and, remarkably, doubling the total the following year, when sales reached $1.96 billion.
In 2001, China passed the United States as the largest market of fixed line subscribers, a year that also saw the country surpass the United States as the largest mobile telephone market.
By 2003, he controlled 60 percent of the PAS market for network gear in China, with substantial expansion opportunities being created with each passing year.
Between its IPO and 2003, UTStarcom's revenues increased tenfold, a feat made even more remarkable when the company's results were compared with those of its rivals, the industry behemoths whose sway had once presented formidable obstacles to Lu's small outfit.
"Why UTStarcom Is a Telecom Star," Business Week Online, March 4, 2004.
2005 Lu sets a financial goal of $10 billion in revenues by the end of the decade.
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