UTStarcom Sells Off Its Personal Communications Division

UTStarcom probably wants to focus its efforts on its network infrastructure business, as they have just sold off their Personal Communications Division for $240 odd million to a group or private investors called Personal Communications Devices, LLC. Said division was the drive in pushing the corporate wares to Virgin Mobile, Verizon and others in North America. Fortunately the new owners will be doing the same thing, and will keep the same team as before, so it looks like more of a ownership change of sorts, for the moment.