Telestone Technologies Corporation Wins China Mobile Communications Corporation Inner Mongolia Branch's Wi-Fi Contract with WFDS(TM) Technology
Project Contract Valued at $8.0 million Scheduled to Begin in May and Conclude in October of 2010
BEIJING, May 4 /PRNewswire-Asia-FirstCall/ -- Telestone Technologies Corporation (Nasdaq: TSTC; "Telestone" or the "Company"), a leading developer of local access network solutions, products, and engineering services, announced today it has secured a new project from China Mobile Communications Corporation's ("CMCC") Inner Mongolia branch to install a Telestone Technologies' Wireless Fiber Optic Distribution System (WFDS(TM)) to provide wi-fi coverage for CMCC customers in five sub-provinces of Inner Mongolia.
Telestone responded to the request for quotations in December 2009 and won the contract in April 2010. Telestone will begin preliminary onsite installations in May 2010 to provide high-speed wi-fi internet access through five sub-provinces in Inner Mongolia by October 2010. Telestone estimates the contract value at $8.0 million, including revenue contributions of approximately 60% from the sales and installation of Telestone WFDS(TM) equipment and approximately 40% contract revenues generated by Telestone's Inner Mongolia branch office's engineering and project design services.
Telestone's WFDS(TM) system is a Unified Local Access Network Solution (ULAN). The system can provide access service in areas for all information service networks, including 2G/3G/4G cellular, wi-fi internet, fixed-line internet, fixed-line phone and TV and other on-site services such as closed circuit TV and security monitoring.
"WFDS(TM) is a more dynamic solution than other options we considered for wi-fi coverage," began Yanxin Zhang, the Director of Network Building Department of CMCC's Inner Mongolia Branch. "Its wide-band capacity, multi-signal wireless distribution, cost efficiency, long distance coverage ability and quick installation are all critical for CMCC to provide wireless data services in the areas we target for coverage," Zhang concluded.
"We believe that the clear advantages of our technology continue to gain momentum with our 'Big 3' customers in China," began Chairman and CEO, Daqing Han, of Telestone. "Traditional access network technologies such as booster-antenna systems for wireless, wi-fi, IP internet, and older "twist wire" for hard-line connections for phone, LAN, RF cable and CATV made access to remote areas very complex and costly for carriers. Our WFDS(TM) system provides a solution for carriers to quickly and cost effectively expand coverage. We anticipate a smooth and quick installation of our system for CMCC wi-fi customers and to provide similar coverage for other areas in China throughout the year," Han concluded.
About Telestone's WFDS(TM) Technology
Telestone's proprietary technology, Wireless Fiber-optics Distribution System (WFDS(TM)) is a unified local access network technology concept invented in 2005 to address multi-signal cellular networks, IP access networks and CATV in China. WFDS(TM) systems and its related hardware components were approved by all three Chinese telecommunications companies in 2008 and further approved by the US-FCC in October 2009. WFDS(TM) technology can deliver all three cellular signals GSM, WCDMA & CDMA of 2G, WCDMA, CDMA2000&TD-SCDMS of 3G, LTE of 4G, in additional to wi-fi, direct access broadband, fixed line voice and Internet Access to Things and CATV though a combination of fiber optic fixed lines and multi-signal antennae. Telestone can install a WFDS(TM) network for both indoor and outdoor uses. Telestone Technologies believes that property owners favor technology solutions which can access all of the carriers' cellular signals and also be cost effective, scalable, and easy to install.
About Telestone Technologies Corporation
Telestone is a leading innovator in local access network technologies and solutions. Telestone is a global company with 30 sales offices throughout China and a network of international branch offices and sales agents. For more than 10 years, Telestone has been installing radio-frequency based 1G and 2G systems throughout China for China's leading telecommunications companies. After intensive research on the demands of carriers in the 3G age, Telestone developed its third-generation Unified Local Access Network Technology, WFDS(TM) (Wireless Fiber-Optics Distribution System), which provides a scalable, multi-access local access network solution for China's three cellular protocols. Telestone offers services that include project design, project manufacturing, installation, maintenance and after-sales support. Telestone Technologies has approximately 1,200 employees.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of Telestone Technologies Corporation and its subsidiary companies. Forward looking statements can be identified by the use of forward-looking terminology such as "believes, expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to product development, marketing, concentration in a single customer, raw material costs, market acceptance, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. Telestone Technologies is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
For further information, contact:
Company:
Vicente Liu, VP of Finance
Cell: +852-6683-6256
Email: [email protected]
Feng Dan, Assistant Secretary of the Board
Tel: +86-10-8367-0088 x1232
Cell: +86-13466413115
Email: [email protected]
Investor Relations:
John Mattio
HC International Inc.
Tel: +1-203-616-5144
Email: [email protected]
SOURCE Telestone Technologies Corporation
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