UTStarcom makes telecommunications networking equipment, selling packet transport and optical networking platforms to telecom carriers for 4G/5G mobile backhaul, metro aggregation, and broadband access. UTStarcom sells directly to telecom operators and through OEM/ODM partnerships, with manufacturing and R&D based in Hangzhou, China. The business is heavily concentrated — SoftBank in Japan and BSNL in India together account for roughly 62% of FY25 net sales. The core product line includes the SkyFlux CPT converged packet transport platform for 5G midhaul and backhaul, the SkyFlux UAR disaggregated router, the SyncRing network synchronization hardware, broadband access platforms, and the SOO Station SDN software controller. UTStarcom also sells the older NG-PTN platform, which still has active deployments in Europe generating maintenance revenue. The business model is project-driven hardware sales supplemented by recurring maintenance contracts on installed equipment. Japan (44% of FY25 net sales) is primarily a maintenance-oriented market, India (33%) has been declining due to reduced BSNL spending, and China (23%) is seen as the highest near-term growth opportunity, evidenced by a recent contract to supply disaggregated router hardware to China Telecom. UTStarcom is also developing an Optical Circuit Switching product targeting AI data center networking, with a prototype expected in the second half of 2026.