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<SEC-DOCUMENT>0000912057-02-034220.txt : 20020830
<SEC-HEADER>0000912057-02-034220.hdr.sgml : 20020830
<ACCEPTANCE-DATETIME>20020830163354
ACCESSION NUMBER:		0000912057-02-034220
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20020829
ITEM INFORMATION:		Other events
ITEM INFORMATION:		Financial statements and exhibits
FILED AS OF DATE:		20020830

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UTSTARCOM INC
		CENTRAL INDEX KEY:			0001030471
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMUNICATIONS EQUIPMENT, NEC [3669]
		IRS NUMBER:				521782500
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-29661
		FILM NUMBER:		02754465

	BUSINESS ADDRESS:	
		STREET 1:		1275 HARBOR BAY PARKWAY
		STREET 2:		STE 100
		CITY:			ALAMEDA
		STATE:			CA
		ZIP:			94502
		BUSINESS PHONE:		5108648800

	MAIL ADDRESS:	
		STREET 1:		1275 HARBOR BAY PARKWAY
		STREET 2:		STE 100
		CITY:			ALAMEDA
		STATE:			CA
		ZIP:			94502
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a2088525z8-k.htm
<DESCRIPTION>8-K
<TEXT>
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<BR>

<div style="font-family:'Times New Roman';">

<div style="border:none;border-top:double windowtext 9.0pt;padding:0in 0in 0in 0in;">

<p style="border:none;margin:12.0pt 0in .0001pt;padding:0in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div>

<p align="center" style="margin:12.0pt 0in .0001pt;text-align:center;text-indent:0in;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SECURITIES
AND EXCHANGE COMMISSION</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Washington,
D.C. 20549-1004</font></b></p>

<p align="center" style="margin:12.0pt 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:12.0pt 0in .0001pt;text-align:center;text-indent:0in;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM 8-K</font></b></p>

<p style="font-weight:bold;margin:12.0pt 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:12.0pt 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">CURRENT REPORT</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Pursuant
to Section&nbsp;13 or 15(d) of</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">the Securities Exchange Act of 1934</font></b></p>

<p align="center" style="margin:12.0pt 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:12.0pt 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="26%" valign="top" style="padding:0in .7pt 0in .7pt;width:26.72%;">
  <p align="center" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:center;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="46%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:46.54%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">August
  29, 2002</font></b></p>
  </td>
  <td width="26%" valign="top" style="padding:0in .7pt 0in .7pt;width:26.72%;">
  <p align="center" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:center;text-indent:0in;">&nbsp;</p>
  </td>
 </tr>
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  <td width="26%" valign="top" style="padding:0in .7pt 0in .7pt;width:26.72%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>
  </td>
  <td width="46%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:46.54%;">
  <p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date of Report (Date of Earliest Event Reported)</font></p>
  </td>
  <td width="26%" valign="top" style="padding:0in .7pt 0in .7pt;width:26.72%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>
  </td>
 </tr>
</table>

</div>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:12.0pt 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="100%" colspan="3" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UTSTARCOM, INC.</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="28%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:28.94%;">
  <p align="center" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:center;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="42%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:42.12%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact name of registrant as specified in its charter)</font></p>
  </td>
  <td width="28%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:28.94%;">
  <p align="center" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:center;text-indent:0in;">&nbsp;</p>
  </td>
 </tr>
</table>

</div>

<p align="center" style="margin:12.0pt 0in .0001pt;text-align:center;text-indent:.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="37%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:37.12%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-decoration:underline;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;">Delaware</font></b></p>
  </td>
  <td width="25%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:25.76%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-decoration:underline;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;">002-29661</font></b></p>
  </td>
  <td width="37%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:37.12%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-decoration:underline;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;">52-1782500</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="37%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:37.12%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other jurisdiction of incorporation)</font></p>
  </td>
  <td width="25%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:25.76%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission File Number)</font></p>
  </td>
  <td width="37%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:37.12%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(I.R.S. Employer Identification No.)</font></p>
  </td>
 </tr>
</table>

</div>

<p align="center" style="margin:12.0pt 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:12.0pt 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1275
Harbor Bay Parkway</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Alameda,
California&#160; 94502</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of principal executive offices)&#160; (Zip code)</font></p>

<p align="center" style="margin:12.0pt 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="26%" valign="top" style="padding:0in .7pt 0in .7pt;width:26.72%;">
  <p style="font-size:1.0pt;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-decoration:underline;">&nbsp;</p>
  </td>
  <td width="46%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:46.56%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-decoration:underline;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;">(510) 864-8800</font></b></p>
  </td>
  <td width="26%" valign="top" style="padding:0in .7pt 0in .7pt;width:26.72%;">
  <p style="font-size:1.0pt;font-weight:bold;margin:0in 0in .0001pt;text-align:center;text-decoration:underline;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="26%" valign="top" style="padding:0in .7pt 0in .7pt;width:26.72%;">
  <p align="center" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:center;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="46%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:46.56%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Registrant&#146;s telephone number, including area code)</font></p>
  </td>
  <td width="26%" valign="top" style="padding:0in .7pt 0in .7pt;width:26.72%;">
  <p align="center" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:center;text-indent:0in;">&nbsp;</p>
  </td>
 </tr>
</table>

</div>

<div style="border:none;border-bottom:double windowtext 9.0pt;padding:0in 0in 0in 0in;">

<p align="center" style="border:none;margin:12.0pt 0in .0001pt;padding:0in;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div>


<div style="margin:12.0pt 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="2" face="Times New Roman" style="font-size:10.0pt;">
<!-- ZEQ.=1,SEQ=1,EFW="2088525",CP="UTSTARCOM, INC.",DN="1",CHK=1018511,FOLIO='',FILE="DISK026:[02PAL1.02PAL2121.EDGAR]8-K_2121.CHC",USER="DNICHOL",CD='Aug 30 12:23 2002' -->
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</font>

<p align="center" style="font-size:12.0pt;margin:12.0pt 0in .0001pt;text-align:center;text-indent:0in;">&nbsp;</p>

<p style="margin:12.0pt 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Other Events.</font></b></p>

<p style="margin:12.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; On August 29, 2002, UTStarcom, Inc. (&#147;UTStarcom&#148;) issued a
press release announcing its repurchase of 6,000,000 shares of common stock
from SOFTBANK Corp.&#160; The press release
is attached hereto in its entirety as Exhibit 99.1.</font></p>

<p style="margin:12.0pt 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Financial Statements and Exhibits.</font></b></p>

<p style="margin:12.0pt 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.94%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit 99.1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.7%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="86%" valign="top" style="padding:0in .7pt 0in .7pt;width:86.36%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Press release entitled &#147;</font><font style="font-weight:bold;"><b><font size="2" style="font-size:10.0pt;font-weight:normal;">UTStarcom Inc. to Repurchase 6 Million Shares of Its Common
  Stock From SOFTBANK Corp.,</font></b></font><font size="2" style="font-size:10.0pt;">&#148; dated August 29, 2002.</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:12.0pt 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:12.0pt 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>


<div style="margin:12.0pt 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="2" face="Times New Roman" style="font-size:10.0pt;">
<!-- ZEQ.=1,SEQ=2,EFW="2088525",CP="UTSTARCOM, INC.",DN="1",CHK=988852,FOLIO='2',FILE="DISK026:[02PAL1.02PAL2121.EDGAR]8-K_2121.CHC",USER="DNICHOL",CD='Aug 30 12:23 2002' -->
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</font>

<p align="center" style="font-size:12.0pt;margin:12.0pt 0in .0001pt;text-align:center;text-indent:0in;">&nbsp;</p>

<p align="center" style="margin:12.0pt 0in .0001pt;text-align:center;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURE</font></b></p>

<p style="margin:12.0pt -4.5pt .0001pt 0in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has caused
this report to be signed on its behalf by the undersigned hereunto duly
authorized.</font></p>

<p style="margin:12.0pt -4.5pt .0001pt 0in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="font-size:1.0pt;margin:0in -4.5pt .0001pt 0in;">&nbsp;</p>
  </td>
  <td width="50%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in -4.5pt .0001pt 0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">UTSTARCOM, INC.</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="font-size:12.0pt;margin:0in -4.5pt .0001pt 0in;">&nbsp;</p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.32%;">
  <p style="font-size:12.0pt;margin:0in -4.5pt .0001pt 0in;">&nbsp;</p>
  </td>
  <td width="46%" valign="top" style="padding:0in .7pt 0in .7pt;width:46.68%;">
  <p style="font-size:12.0pt;margin:0in -4.5pt .0001pt 0in;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date: August 30, 2002</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.32%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="46%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:46.68%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Michael J. Sophie</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="50%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name: Michael J. Sophie</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="50%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title: Chief Financial Officer</font></p>
  </td>
 </tr>
</table>


<div style="margin:12.0pt 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="2" face="Times New Roman" style="font-size:10.0pt;">
<!-- ZEQ.=1,SEQ=3,EFW="2088525",CP="UTSTARCOM, INC.",DN="1",CHK=759129,FOLIO='',FILE="DISK026:[02PAL1.02PAL2121.EDGAR]8-K_2121.CHC",USER="DNICHOL",CD='Aug 30 12:23 2002' -->
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<p align="center" style="font-size:12.0pt;margin:12.0pt 0in .0001pt;text-align:center;text-indent:0in;">&nbsp;</p>

<p align="center" style="margin:12.0pt 0in .0001pt;text-align:center;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">INDEX TO
EXHIBITS FILED WITH</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">THE CURRENT REPORT ON FORM&nbsp;8-K DATED AUGUST 29,
2002</font></b></p>

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  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Exhibit</font></b></p>
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  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Description</font></b></p>
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  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font></p>
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  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Press release entitled &#147;</font><font style="font-weight:bold;"><b><font size="2" style="font-size:10.0pt;font-weight:normal;">UTStarcom Inc. to Repurchase 6 Million Shares of Its
  Common Stock From SOFTBANK Corp.,</font></b></font><font size="2" style="font-size:10.0pt;">&#148; dated August 29, 2002.</font></p>
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<p align="right" style="margin-left:0in;margin-right:0in;text-align:right;"><font style="font-weight:bold;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit 99.1</font></b></font></p>

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<p style="margin-left:0in;margin-right:0in;"><font style="font-weight:bold;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Press
Release</font></b></font></p>

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<p align="center" style="margin-left:0in;margin-right:0in;text-align:center;"><font style="font-weight:bold;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">UTSTARCOM INC. TO REPURCHASE 6 MILLION SHARES OF
ITS COMMON<br>
STOCK FROM SOFTBANK CORP.</font></b></font></p>

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<p style="margin-left:0in;margin-right:0in;"><font style="font-weight:bold;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">SOFTBANK Reiterates Value of
Strategic Relationship With UTStarcom Inc.</font></i></b></font></p>

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<p style="margin-left:0in;margin-right:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ALAMEDA, Calif.,
Aug. 29, UTStarcom Inc. (Nasdaq: UTSI) today announced that it has completed
the purchase of 6 million shares of its common stock valued at approximately
$72 million dollars from its largest shareholder, SOFTBANK Corp. As part of
this transaction, SOFTBANK has signed a voluntary &#147;lock-up&#148; agreement stipulating
that it will not sell any shares of UTStarcom stock within the next 6 months.
This lock-up agreement will end on March 1, 2003, which coincides with the
start of the Company&#146;s &#147;blackout period&#148; in which insiders are not permitted to
sell shares.</font></p>

<p style="margin-left:0in;margin-right:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In the past two days,
SOFTBANK Corp. has sold a total of 12 million shares of UTStarcom common stock,
six million in a Rule 144 block trade completed Wednesday, August 28th and six
million to UTStarcom as a buyback today. After completion of this transaction SOFTBANK
will own approximately 20% of UTStarcom and will remain the company&#146;s largest
shareholder.</font></p>

<p style="margin-left:0in;margin-right:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;This decision to sell
shares was very difficult as UTStarcom is one of SOFTBANK&#146;s most important
strategic investments,&#148; stated Masayoshi Son, President and CEO of SOFTBANK
Corp. &#147;The proceeds of the sale will help finance our rapidly expanding
broadband business in Japan. SOFTBANK reiterates its desire to maintain a
long-term ownership stake in UTStarcom and believes the lock-up agreement
provides visibility into our ownership intentions. We believe this is in the
best interests of all shareholders and the overall valuation of UTStarcom.&#148;</font></p>

<p style="margin-left:0in;margin-right:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;With the Rule 144
block sale last night by SOFTBANK, we saw an opportunity to provide increased
clarity and support of our shareholders and approached SOFTBANK with a proposal
to repurchase shares,&#148; said Mike Sophie, Chief Financial Officer of UTStarcom
Inc. &#147;We also believe this transaction is an attractive investment for the
Company as it will be accretive and sends a positive message to our
shareholders.&#148;</font></p>

<p style="margin-left:0in;margin-right:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;We believe this is in
the best interest of all of our shareholders and is an excellent use of the
Company&#146;s cash to buy stock at these prices,&#148; added Hong Lu, Chief Executive
Officer of UTStarcom Inc. &#147;We hope this clarity will now allow the investment
community to focus on the fundamentals of the company, which we continue to
believe are as strong as they have ever been.&#148;</font></p>

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