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<SEC-DOCUMENT>0001104659-03-003728.txt : 20030307
<SEC-HEADER>0001104659-03-003728.hdr.sgml : 20030307
<ACCEPTANCE-DATETIME>20030307082443
ACCESSION NUMBER:		0001104659-03-003728
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20030306
ITEM INFORMATION:		Other events
ITEM INFORMATION:		Financial statements and exhibits
FILED AS OF DATE:		20030307

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:		03595311

	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>j8253_8k.htm
<DESCRIPTION>8-K
<TEXT>
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<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>

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<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="3" face="Times New Roman" style="font-size:12.0pt;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="3" face="Times New Roman" style="font-size:12.0pt;">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;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">March 6, 2003</font></b></p>

<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>

<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>

<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;">UTSTARCOM, INC.</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;">(Exact name of registrant as specified in its charter)</font></p>

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

<div align="center">

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  <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;">Delaware</font></b></p>
  </td>
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  <p align="center" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:center;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.12%;">
  <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;">002-29661</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.52%;">
  <p align="center" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:center;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.34%;">
  <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;">52-1782500</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.5%;">
  <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="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.52%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-indent:0in;">&nbsp;</p>
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  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.12%;">
  <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;">(Commission File Number)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.52%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.34%;">
  <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 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;&#160; &#160;&#160;&#160;&#160;&#160;&#160; (Zip code)</font></p>

<p align="center" style="margin:12.0pt 0in .0001pt;text-align:center;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></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;">(510)
864-8800</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;">(Registrant&#146;s telephone number, including area code)</font></p>

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

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

</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>


<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;">
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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 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 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;">Recent
Developments</font></b></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;">Pending
Acquisition</font></b></p>

<p style="margin:12.0pt 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On March 4, 2003, we entered into an agreement to purchase certain
assets and liabilities of the CommWorks division of 3Com Corporation for $100.0
million in cash. The consummation of the acquisition is subject to regulatory
approvals, the completion of an audit of the CommWorks division and other
customary closing conditions. If we fail to close the acquisition by July 2,
2003 and all closing conditions have been satisfied, we will be required to pay
to 3Com a $10.0 million break-up fee. The transaction has been approved by the
boards of directors of both companies and does not require stockholder
approval. The transaction is expected to close by the end of June 2003, subject
to the satisfaction of the closing conditions described above. While the assets
will be subject to a post-closing valuation, we expect the transaction to
result in the acquisition of approximately $20.0 million to $30.0 million of
intangible assets to be amortized over four years and also expect to incur a
one-time charge, estimated at $8.0 million to $12.0 million, associated with
the write-off of in-process research and development in the quarter in which
the transaction closes. The foregoing amounts represent our current estimates
but are subject to change following the completion of the asset valuation. </font></p>

<p style="margin:12.0pt 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CommWorks develops and deploys carrier-class, IP-based multi-service
access and service creation platforms for telecommunications service providers.
CommWorks&#146; product portfolio includes the three key components of next
generation networks: wireline access systems; wireless access systems; and a
media independent softswitch, that are critical to providing complete next
generation data and voice services to both fixed and mobile subscribers.
CommWorks is headquartered in Rolling Meadows, Illinois.</font></p>

<p style="margin:12.0pt 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">One of our strategic goals is to increase our global sales and support
infrastructure. The acquisition of the CommWorks assets will give us a global
platform for growth, complementing our existing presence in China, Japan, India
and South America. We believe integrating CommWorks into our organization will
broaden and strengthen our product offerings and customer base. </font></p>

<p style="margin:12.0pt 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Based on information provided by 3Com in its public filings, CommWorks
has experienced sequentially declining annual revenue for the past several
years and has experienced substantial operating losses during this period. For
Securities and Exchange Commission reporting purposes, CommWorks has been
treated as a separate segment by 3Com; however, CommWorks is not a separate
legal entity. Since CommWorks does not operate as a separate legal entity,
complete historical financial statements for CommWorks have not yet been
prepared. The audited financial statements, when prepared, may differ
significantly from the information reported by 3Com in its financial
statements. Furthermore, historical results of the CommWorks operations may not
be indicative of the results to be expected from those operations as they are
integrated into our business. </font></p>

<p style="margin:12.0pt 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We cannot assure you that the acquisition will ever be consummated or,
if consummated, will be successful. Even if the acquisition is consummated, our
management and financial controls, personnel,computer systems and other
corporate support systems may not be adequate to manage the increase in the
size and scope of our operations as a result of any completed acquisition.
Although our acquisition of CommWorks is structured as the acquisition of
certain assets and liabilities, we cannot assure you that we will not assume or
become subject to, as a result of the acquisition, liabilities that have an
adverse effect on our financial condition or results of operations. We also
expect that the CommWorks operations will require a significant working capital
investment from us and/or a debt facility. If additional financing is needed to
fund the CommWorks operations, we cannot assure you that such financing will be
available to us on commercially reasonable terms, or at all. </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;">SOFTBANK
America Inc. Transaction </font></b></p>

<p style="margin:12.0pt 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Concurrent with the sale of the notes as described herein, we expect to
repurchase 8.0 million shares of our common stock beneficially owned by
SOFTBANK America Inc. at a purchase price equal to a 5% discount to the Nasdaq
National Market closing sale price for our common stock on March 6, 2003. On
April 5, 2003 we anticipate issuing a note, bearing interest at a rate of 2%
per year as payment for the shares. The note matures on April 8, 2003. We plan
to use a portion of the net proceeds of this offering to repay the note. In
connection with the repurchase transaction, SOFTBANK has agreed to enter into
an agreement with us not to offer, sell or otherwise dispose of its UTStarcom
stock for a period of one year. The agreement is subject to exceptions,
including: (i) a pledge of shares for the purposes of securing a loan or
similar obligation from one or more banks, broker-dealers or other financial
institutions following the default by the borrower or any sale by the financial
institution on such default; (ii) shares of common stock of UTStarcom purchased
in the public market; and (iii) any grant, sale or transfer of warrants or call
options exercisable for up to 2,000,000 shares of UTStarcom common stock,
provided that any such warrants or call options cannot be exercised within one
(1) year of the date of the lockup agreement. We may waive SOFTBANK&#146;s
obligations in the agreement in our sole discretion and we have waived similar
obligations of SOFTBANK in the past. </font></p>

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

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">After completion
of these transactions, SOFTBANK will beneficially own approximately 14.8
percent of our outstanding stock.</font></p>

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


<div align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;text-indent:0in;"><b><font size="2" face="Dutch801BT-Bold" style="font-size:10.0pt;font-weight:bold;">

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</font></b></div>


<p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</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;">Risk Factors &#150; Risks Related to our Company</font></b></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;">The pending
acquisition of the CommWorks division of 3Com may not be consummated.</font></b></p>

<p style="margin:12.0pt 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On March 4, 2003, we entered into an agreement to purchase certain
assets and liabilities of the CommWorks division of 3Com Corporation for $100
million in cash. The transaction is expected to close by the end of June 2003.
However, the consummation of the acquisition is subject to regulatory
approvals, the completion of an audit of the CommWorks division, and other
customary closing conditions. If we fail to close the acquisition by July 2,
2003 and all closing conditions have been satisfied, we will be required to pay
to 3Com a $10 million break-up fee. We expect the transaction to result in
approximately $20.0 million to $30.0 million of intangible assets to be
amortized over four years and also expect to incur a one-time charge, estimated
at $8.0 million to $12.0 million, associated with the write-off of in-process
research and development in the quarter in which the transaction closes. The
foregoing amounts represent our current estimates but are subject to change
following the completion of an asset valuation. We cannot assure you that the
acquisition will ever be consummated. </font></p>

<b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">
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<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;">CommWorks
has experienced sequentially declining annual revenue and substantial operating
losses.&#160; </font></b></p>

<p style="margin:12.0pt 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Based on information provided by 3Com in its public filings, CommWorks
has experienced sequentially declining annual revenue for the past several
years and has experienced substantial operating losses during this period.
There can be no assurance that CommWorks will not continue to do so following
its acquisition by us. For Securities and Exchange Commission reporting
purposes, CommWorks has been treated as a separate segment by 3Com; however,
CommWorks is not a separate legal entity. Since CommWorks does not operate as a
separate legal entity, complete historical financial statements for CommWorks
have not yet been prepared. The audited financial statements, when prepared,
may differ significantly from the information reported by 3Com in its financial
statements. Furthermore, historical results of the CommWorks operations may not
be indicative of the results to be expected from those operations as they are
integrated into our business. </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;">Our
acquisition of CommWorks could be difficult to integrate, may disrupt our
business and could harm our operating results. </font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:37.05pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Even if the transaction
is consummated, our management and financial controls, personnel, computer
systems and other corporate support systems may not be adequate to manage the
increase in the size and scope of our operations as a result of the completed
acquisition. In addition, we may not be able to generate revenue from the
CommWorks operations consistent with historical results. We may not be able to
realize the synergies that we expect will result from the addition of the
CommWorks assets to our business. Although our acquisition of CommWorks is
structured as the acquisition of selected assets and liabilities, we cannot
assure you that we will not assume or become subject to, as a result of the
acquisition, liabilities that have an adverse impact on our financial position
or results of operations. We also expect that CommWorks will need a significant
working capital investment from us and/or an available debt facility. If
additional financing is needed to fund the CommWorks operations, we cannot
assure you that such financing will be available to us on commercially
reasonable terms, or at all.</font></p>

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


<div 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;">

<hr size="1" width="25%" noshade color="black" align="center">

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

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; On March 6, 2003, UTStarcom, Inc.
(&#147;UTStarcom&#148;) issued a press release entitled &#147;UTStarcom, Inc. Announces Proposed
Convertible Subordinated Notes Offering And Simultaneous Convertible Bond Hedge
And Call Option Transactions.&#148;&#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; 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>

<div align="center">

<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:10.74%;">
  <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="0%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:.64%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="88%" valign="top" style="padding:0in .7pt 0in .7pt;width:88.62%;">
  <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;UTStarcom, Inc. Announces Proposed
  Convertible Subordinated Notes Offering And Simultaneous Convertible Bond
  Hedge And Call Option Transactions</font><font style="font-weight:bold;"><b><font size="2" style="font-size:10.0pt;font-weight:normal;">,</font></b></font><font size="2" style="font-size:10.0pt;">&#148; dated March 6, 2003.</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 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;">
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<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="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.36%;">
  <p style="font-size:1.0pt;margin:0in -4.5pt .0001pt 0in;">&nbsp;</p>
  </td>
  <td width="51%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:51.64%;">
  <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="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.36%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="51%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:51.64%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;text-indent:0in;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.36%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date: March 6, 2003</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.18%;">
  <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="44%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:44.46%;">
  <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="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.36%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="7%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:7.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="44%" valign="top" style="padding:0in .7pt 0in .7pt;width:44.4%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Michael J. Sophie</font></p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.36%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="7%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:7.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="44%" valign="top" style="padding:0in .7pt 0in .7pt;width:44.4%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Financial Officer</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="295" style="border:none;"></td>
  <td width="44" style="border:none;"></td>
  <td width="0" style="border:none;"></td>
  <td width="271" style="border:none;"></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;">3</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;">
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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 MARCH 6,
2003</font></b></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>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="12%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:12.04%;">
  <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>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.56%;">
  <p align="center" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:center;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="85%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:85.4%;">
  <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>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:12.04%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.56%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="85%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:85.4%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;text-indent:0in;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in .7pt 0in .7pt;width:12.04%;">
  <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>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.56%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="85%" valign="top" style="padding:0in .7pt 0in .7pt;width:85.4%;">
  <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;UTStarcom, Inc. Announces Proposed
  Convertible Subordinated Notes Offering And Simultaneous Convertible Bond
  Hedge And Call Option Transactions</font><font style="font-weight:bold;"><b><font size="2" style="font-size:10.0pt;font-weight:normal;">,</font></b></font><font size="2" style="font-size:10.0pt;">&#148; dated March 6, 2003.</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;">4</font></p>


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<SEQUENCE>3
<FILENAME>j8253_ex99d1.htm
<DESCRIPTION>EX-99.1
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EX99.1</font></b></p>

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

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">UTStarcom,
Inc. Announces Proposed Convertible Subordinated No</font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">tes Off</font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">ering And Simultaneous Convertible
Bond Hedge and Call Option Transactions</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="display:none;font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="display:none;font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="display:none;font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="width:100.0%;">
 <tr>
  <td width="578" style="padding:0in 0in 0in 0in;width:433.5pt;">
  <p style="margin-left:0in;margin-right:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  <p style="margin-left:0in;margin-right:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ALAMEDA, Calif., March 6 /PRNewswire-FirstCall/ &#151;
  UTStarcom, Inc. (Nasdaq: UTSI) announced today that it intends to offer,
  subject to market and other conditions, approximately $350 million aggregate
  principal amount of Convertible Subordinated Notes due 2008 through an
  offering to qualified institutional buyers pursuant to Rule 144A under the
  Securities Act of 1933, as amended (the &#147;Securities Act&#148;). The interest rate,
  conversion rate (including the circumstances in which a holder may convert
  its notes) and offering price are to be determined by negotiations between
  UTStarcom and the initial purchasers of the notes.</font></p>
  <p style="margin-left:0in;margin-right:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Photo:
  http://www.newscom.com/cgi-bin/prnh/20001102/UTSILOGO )</font></p>
  <p style="margin-left:0in;margin-right:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">UTStarcom stated that it expects to grant the initial
  purchasers a 13-day option to purchase up to an additional $52.5 million
  principal amount of notes.</font></p>
  <p style="margin-left:0in;margin-right:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">UTStarcom plans to use a portion of the net proceeds to
  repurchase 8 million of its shares beneficially owned by SOFTBANK America,
  Inc. The purchase price for the shares is expected to be at a 5% discount to
  today&#146;s Nasdaq National Market closing sale price. UTStarcom also intends to
  use a portion of the net proceeds to enter into convertible bond hedge and
  call option transactions with respect to its common stock to reduce the
  potential dilution from conversion of the notes. In addition, the Company
  intends to use the remaining net proceeds for general corporate purposes,
  including research and development, expansion of its sales and marketing
  organization and working capital. From time to time the Company may evaluate
  opportunities to acquire or invest in complementary businesses, technologies
  or products, and may use a portion of the net proceeds to enter into these
  types of transactions.</font></p>
  <p style="margin-left:0in;margin-right:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This announcement is neither an offer to sell nor a
  solicitation to buy any of these securities and shall not constitute an
  offer, solicitation or sale in any jurisdiction in which such offer,
  solicitation or sale is unlawful.</font></p>
  <p style="margin-left:0in;margin-right:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The securities will not be registered under the
  Securities Act, or any state securities laws, and unless so registered, may
  not be offered or sold in the United States except pursuant to an exemption
  from the registration requirements of the Securities Act and applicable state
  laws.</font></p>
  <p style="margin-left:0in;margin-right:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SOURCE: UTStarcom, Inc.</font></p>
  </td>
 </tr>
</table>

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

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

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


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

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