<SEC-DOCUMENT>0001144204-15-010560.txt : 20150327
<SEC-HEADER>0001144204-15-010560.hdr.sgml : 20150327
<ACCEPTANCE-DATETIME>20150218133734
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001144204-15-010560
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20150218

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UTSTARCOM HOLDINGS CORP.
		CENTRAL INDEX KEY:			0001030471
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMUNICATIONS EQUIPMENT, NEC [3669]
		IRS NUMBER:				521782500
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		52-2 BLDG. BDA INTL ENTERPRISE AVE
		STREET 2:		NO. 2 JINGYUAN NORTH ST. DAXING DISTRICT
		CITY:			BEIJING
		STATE:			F4
		ZIP:			100176
		BUSINESS PHONE:		86 (10) 85205588

	MAIL ADDRESS:	
		STREET 1:		52-2 BLDG. BDA INTL ENTERPRISE AVE
		STREET 2:		NO. 2 JINGYUAN NORTH ST. DAXING DISTRICT
		CITY:			BEIJING
		STATE:			F4
		ZIP:			100176

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UTSTARCOM INC
		DATE OF NAME CHANGE:	19970110
</SEC-HEADER>
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<P STYLE="margin: 0">&nbsp;</P>

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    <td style="width: 50%; text-align: left; font-size: 10pt"><IMG SRC="tlogo.jpg" ALT="">&nbsp;</td>
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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">UTStarcom Holdings Corp.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Level 6, 28 Hennessy Road</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Admiralty, Hong Kong</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">February 18, 2015</P></td></tr>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>VIA EDGAR </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mr. Larry Spirgel, Assistant Director</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mr. Gregory Dundas, Attorney-Advisor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ms. Kathryn Jacobson, Senior Staff Accountant<BR>
Ms. Kenya Gumbs, Senior Staff Accountant</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Division of Corporation Finance<BR>
Securities and Exchange Commission<BR>
100 F Street, N.E.<BR>
Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>Re:</B></TD><TD><B>UTStarcom Holdings Corp. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><B>Form 20-F for the Fiscal Year Ended December 31,
2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><B>Filed April 18, 2014</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><B>Response dated December 18, 2014</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><B>File No. 001-35216</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Mr. Spirgel, Mr. Dundas, Ms. Jacobson and Ms. Gumbs:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">This letter sets forth the responses of
UTStarcom Holdings Corp. (the &ldquo;Company&rdquo;) to the comments contained in the letter dated January 22, 2015 from the Staff
(the &ldquo;Staff&rdquo;) of the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) regarding the Company&rsquo;s
annual report on Form 20-F for the fiscal year ended December 31, 2013 (the &ldquo;2013 Form 20-F&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">For ease of reference, we have set forth
below each of the numbered comments of the the Staff&rsquo;s letter and the Company&rsquo;s response thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><U>Note 3 &ndash; Divestitures, page F-29</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><U>iTV Media Inc or iTV, pages F-38 and F-40</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B><I>1.</I></B></TD><TD><B><I>We note your response to comments 1 and 2. Please tell us your consideration of Jack Lu, Lin Song, Jason Sun, or any
other decision makers (e.g., Board Members, Officers), as de facto agents of both IPTV and iTV. Refer to ASC 810-10-25-42 and 43.</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Summary of Analysis:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">The Company (&ldquo;UT&rdquo;) respectfully advises
the Staff that it has performed a de facto agent analysis for both IPTV and iTV according to ASC 810-10-25-42 and 43 and concluded
that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">1) For IPTV, neither Jack Lu nor the other variable
interest holders of IPTV are de facto agents of UT;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">2) For iTV, the two board members appointed by UT
are UT&rsquo;s de facto agents, while none of the other variable interest holders of iTV are de facto agents of UT. Jason Sun was
a consultant of the Company during the period from October 2010 to March 2013 and served as one of the two iTV board members appointed
by UT during the same period. Jason Sun resigned as both an iTV board member and consultant of the Company in March 2013. Since
resigning, Jason Sun no longer has any relationships with the Company and is not a de facto agent of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Please see the detailed analysis as follow:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B>IPTV analysis:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Other than UT, the key variable interest holder of
IPTV is Jack Lu, the sole ordinary shareholder, sole director and CEO of IPTV.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Jack Lu, former CEO of UT before the IPTV divestiture,
was the person who negotiated the buyout of the IPTV business independently with a special committee formed by UT&rsquo;s board
comprising of two independent directors (the chairman of board and the chairman of Audit Committee). The special committee also
retained outside counsel to support the negotiation and contracting phase of the divestiture. UT started to evaluate strategic
options for the unprofitable IPTV business since early 2012. UT&rsquo;s management and board of directors arrived at the conclusion
that the best option was to divest the IPTV business. UT also obtained an appraisal and fairness opinion from a third party that
supports the divestiture transaction. Subsequent to the divestiture, UT obtained annual appraisals on the valuation of the convertible
bond. Jack Lu resigned from the Company in August 2012 upon completion of the IPTV divestiture and has had no further relationship
with UT after his resignation from the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">The Company considered the following and determined
that Jack Lu is not its de facto agent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><I>a. A party that cannot finance its operations
without subordinated financial support from the reporting entity, for example, another VIE of which the reporting entity is the
primary beneficiary</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Jack Lu has not received any financial support from
the Company after his resignation from the Company. Also, the Company has not provided any further financial support to IPTV after
the divestiture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><I>b. A party that received its interests as a contribution
or a loan from the reporting entity</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Jack Lu did not receive his interests in IPTV as
a contribution or a loan from the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><I>c. An officer, employee, or member of the governing
board of the reporting entity </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Jack Lu is not an officer, employee, nor member of
the governing board of UT after his resignation from the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><I>d. A party that has either of the following:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.5pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.5pt"><I>1. An agreement that it cannot sell, transfer,
or encumber its interests in the VIE without the prior approval of the reporting entity </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.5pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.5pt"><I>2. A close business relationship like the relationship
between a professional service provider and one of its significant clients </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">UT has not placed any restrictions on Jack Lu&rsquo;s
sale, transfer, or encumbrance of Jack Lu&rsquo;s ownership interests in IPTV. Further, Jack Lu does not have any business relationships
with the Company after his resignation from the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">The Company is not aware of any other variable interest
holders of IPTV which could be considered as de facto agents of UT with respect to its interest in IPTV.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B>iTV analysis:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Other than UT, the key variable interest holder of
iTV is Lin Song, the controlling ordinary shareholder, chairman and CEO of iTV.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Lin Song is the founder of iTV. Both the CTO and
the COO of iTV have worked for Lin Song for many years. None of Lin Song, the two board members appointed by Lin Song, the CTO
nor the COO of iTV has any historical relationship with the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">The Company considered that the two board members
appointed by the Company are its de facto agents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">The Company considered the following and determined
that the key variable interest holders, other than the two board members appointed by the Company, are not its de facto agents:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><I>a. A party that cannot finance its operations
without subordinated financial support from the reporting entity, for example, another VIE of which the reporting entity is the
primary beneficiary</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Except for the two board members appointed by the
Company, none of the board members or officers of iTV or Lin Song have received financial support from the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><I>b. A party that received its interests as a contribution
or a loan from the reporting entity</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">None of the board members nominated by UT hold any
interests in iTV. None of the other board members or officers of iTV or Lin Song have received its interests as a contribution
or a loan from the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><I>c. An officer, employee, or member of the governing
board of the reporting entity </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Except for the two board members appointed by UT,
none of the board members or officers of iTV or Lin Song is an officer, employee, or member of the governing board of UT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><I>d. A party that has either of the following:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.5pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.5pt"><I>1. An agreement that it cannot sell, transfer,
or encumber its interests in the VIE without the prior approval of the reporting entity </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.5pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.5pt"><I>2. A close business relationship like the relationship
between a professional service provider and one of its significant clients </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Except for the two board members appointed by UT,
none of the board members or officers of iTV or Lin Song has the above situations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Based on the above, the Company is not aware of any
other variable interest holders of iTV which could be considered as de facto agents of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B><I>2.</I></B></TD><TD><B><I>Please identify the activities that most significantly impact the economic performance of both IPTV and iTV. Additionally,
please clarify for us who has the power to direct those activities. If the power is unilateral, so indicate.</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">The Company respectfully advises the Staff that it
has identified the activities that most significantly impact the economic performance of both IPTV and iTV and gone through the
assessment of who has the power to direct those activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B>IPTV analysis:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">According to the divestiture agreement and convertible
bond agreement, UT does not have any shareholder or board voting rights in IPTV. The activities and decisions of IPTV that are
subject to the written approval from UT are all protective provisions in accordance with ASC 810-10-25-10. The day-to-day operating
decisions of IPTV are made by IPTV key management, which are appointed by the IPTV board of directors. UT does not have the right
to attend any board meetings or management meetings and has not attended any of these meetings since the inception of IPTV. No
one on the management team of IPTV was assigned or nominated by UT. As a result, in IPTV, the power solely rests with Jack Lu,
who has unilateral control. The Company believes that the activities that most significantly impact the economic performance of
IPTV include the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD>Hiring, terminating and compensating key management</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Jack Lu has the unilateral rights to determine the
hiring, termination and compensation of the key management. For example, the Company was not involved in any discussion on the
hiring or the terms of employment of IPTV&rsquo;s COO, such as the scope of responsibilities, salary and benefits, stock options
and etc. Further, none of the agreements provide the Company with any veto rights with respect to the hiring, termination and compensation
for key management.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD>Setting strategies, operation goals and budgets</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">IPTV management, including Jack Lu, sets the strategies,
operation goals and budgets of IPTV. There is no involvement from the Company in any stage of this process. All the strategic initiatives
were only discussed internally among Jack Lu and his management team. The final strategies, operation goal and budgets are to be
approved by Jack Lu. The Company could only request for the budget information after budgets have been approved. The Company does
not have any rights to influence strategies, goals or budgets. Therefore, Jack Lu has the unilateral power to direct these activities.
The Company will only receive quarterly financial statements as an information right contained in the convertible bond agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD>Selecting significant business partners</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Currently, IPTV is leveraging on its sales channel
and expertise on IPTV technology to develop media control platforms for Chinese cable companies in support of their digital cable
efforts. Additionally, IPTV has been actively exploring new business opportunities in China to leverage its IPTV capabilities.
The Company has no greater expertise in this technical field, nor better sales channel and customer relationships in China. Further,
the Company does not have the right to and did not get involved in selecting any of the significant business partners. For example,
IPTV has entered into a business partnership with JD.com for the sale of its advanced set top boxes (&ldquo;STB&rdquo;), which
the Company was not informed or consulted on. Therefore, the Company has no power to direct these activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.</TD><TD>Approving major R&amp;D projects</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The Company has no rights to get involved in any of
phases of R&amp;D projects in IPTV. Further, the Company does not have the expertise in this industry after the divestiture of
IPTV. For example, IPTV launched a new advanced STB named &ldquo;The Egg&rdquo;. The Company was not aware of this new product
until it was shown in the JD.com online store.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5.</TD><TD>Executing IPTV customer contracts</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">IPTV is actively executing outstanding customer contracts
on IPTV equipment with the sales and R&amp;D personnel that IPTV inherited as a result of the divestiture from UT. All future cash
flows subsequent to the divestiture belong to IPTV. As UT was the contracting party to many of the outstanding IPTV customer contracts,
even though the associated assets and liabilities has been passed onto IPTV, UT is involved in monitoring the assignment of such
contracts to IPTV, as well as the completion, cancellation of such customer contracts, so that UT can ultimately remove such assets
and liabilities from UT&rsquo;s balance sheet. This is the extent to which UT is involved in IPTV&rsquo;s operations and UT concluded
that it does not result in UT having control of IPTV.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">As such, the Company determined that it does not
have the right or ability to direct any of the activities that most significantly impact IPTV&rsquo;s economic performance. Jack
Lu, the CEO of IPTV, as majority shareholder and sole board member has the power to direct those activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B>iTV analysis:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">As mentioned in the previous response letter, according
to the Articles of Association (&ldquo;AoA&rdquo;) of iTV, the board of directors has the power to manage, direct and supervise
the business and affairs of iTV, and is authorized to make the significant decisions of iTV by simple majority vote of the Board.
The day-to-day operating decisions of iTV are made by key management, which are appointed by the board of directors. Lin Song is
the CEO, and he controls the board by appointing three of the five members. The Company has the right to appoint two of the members.
Board decisions are made by simple majority. Therefore, the Company does not have power to control the board and consequently,
any of the decisions or activities that are made by the board. Further, the Company does not have the right to assign or appoint
any of iTV&rsquo;s management team. The Company believes that the activities that most significantly impact the economic performance
of iTV include the following activities:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD>Hiring, terminating and compensating key management</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Lin Song has the unilateral rights to determine the
hiring, termination and compensation of the key management through his control over the board. Lin Song made all the decisions
for the hiring of all key management and their compensations, such as the hiring of their CFO, COO and CTO. The only veto rights
UT has with respect to human resources matters are the right to veto iTV from the adoption of any employee share option plans.
However, this is a protective right, rather than a participating right as described in ASC 810-10-25-10. Therefore, the Company
has no power to direct these activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD>Setting strategies, operation goals and budgets</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The iTV management team sets their strategies, operation
goals and budgets. There is no involvement from the Company in any stage of this process. All strategic initiatives were only discussed
internally among Ling Song and his management team, such as the marketing approach, business model, etc. While the final proposed
strategies, operational goals and budgets need to be approved by the board of iTV, such decisions can be approved by a simple majority
vote. Therefore, Lin Song, through his three board members, controls the setting of strategies, operation goals and budgets. The
only situation where the Company has the ability to veto is if the proposed strategies or goals change the business scope of iTV.
However this is a protective right, rather than a participating right as described in ASC810-10-25-10. Therefore, the Company has
no power to direct these activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">For example, the Company has asked Lin Song and management
to switch to a leasing business model on its STB business in order to finance iTV&rsquo;s subscriber growth. That business model
would reduce the capital expenditure for iTV. However, Lin Song and management insist that buying (rather than leasing) the STBs,
renting them to subscribers and collecting monthly rental fees provides a good financial return. The Company was unable to change
iTV&rsquo;s business model for its STB business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD>Selecting significant business partners</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The Company has no rights to get involved in selecting
significant business partners of iTV. For example, iTV entered into a business partnership with TOT Public Company Limited (&ldquo;ToT&rdquo;),
the largest broadband service provider in Thailand, and MIRA TV, S.L., a telecom company in Spain. Both TOT and MIRA TV, S.L. are
independent third parties. These decisions were made by Lin Song and his management team. Similarly, Lin Song and his management
team made decisions in selecting other major vendors, including vendors for STBs and content. For example, it entered into a STB
procurement agreement with TK Connect Co., Ltd. and Geniatech (HK) Co., Ltd., and did not involve or consult the Company. The Company
does not have the right or ability to participate in these activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.</TD><TD>Financing activities</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">In October 2012, iTV had an opportunity to deploy
and operate TV services with TOT and was seeking funding. UT had a board meeting in Bangkok in late October where the UT board
evaluated the opportunity, visited the onsite setup at TOT and the trial service put together by iTV. The UT board concluded that
the prospect was good and decided to participate in the business in the form of convertible bonds with conditions that UT would
provide funding in four different phases once the conditions for each phase were met. The conditions were:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Phase 1 &ndash; passing proof of concept and launch
international content packages</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Phase 2 &ndash; sign bundling marketing agreement
with TOT on broadband &amp; TV services</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Phase 3 &ndash; reach 25,000 TV services subscribers</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Phase 4 &ndash; reach 65,000 TV services subscribers</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The UT board needs to approve the detailed materials
presented by iTV demonstrating the achievement of the conditions. Once the UT board has confirmed that the conditions have been
met, the funding for that phase is made. Over time, iTV achieved all four conditions. These conditions were negotiated up front,
proposed by iTV management, reviewed with UT management, and finally approved by the UT board. At each of those phases, so long
as the conditions were met, and detailed documentation was presented and approved by the UT Board, the funding for that phase was
released. UT did not direct any of iTV&rsquo;s activities in the interim. There was no specific requirement on how iTV management
can use the funds. UT did not get involved nor did it have the right or ability to get involved in iTV&rsquo;s operations as to
how they can achieve the subscriber number. It is considered purely as a financial investment by UT, with milestones agreed up-front.
UT tracks the progress and release funding if milestones are met.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">It was expected that iTV would achieve cash flow break
even after the 4th phase but would need further funding to continue to grow the subscriber number and develop new businesses. iTV
did retain an investment banker in late 2013 to assist it in seeking further funding. At the time that UT made the convertible
bond investments, UT had no intention to gain control of iTV. Additionally, UT did not have the expertise to run or control the
iTV business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5.</TD><TD>Making significant investments</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">All investments are made by the iTV management. The
Company is not involved in any stage of the investments, from identification of targets to negotiation of terms, to closing of
the deals. For example, in July 2014, iTV acquired a private entity called UiTV. This acquisition was initiated by Lin Song and
his management team. This investment was reviewed and approved by the iTV board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The Company has the right to veto iTV from investing
in or acquiring securities of any third party as defined in the iTV articles of association, however, such veto rights do not give
the Company&rsquo;s right to direct this activity, such as initiating a merger or acquisition. Accordingly, this right is more
protective in nature, rather than participating as described in ASC 810-10-25-10. Therefore, the Company does not have the right
or ability to direct these activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">As such, the Company determined that UT does not
have the ability to direct the activities that most significantly impact iTV&rsquo;s economic performance. Lin Song, the CEO of
iTV, through his control of the board has the power to direct those activities. Therefore, the Company concluded that Lin Song
is the primary beneficiary of iTV.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B><I>3.</I></B></TD><TD><B><I>It appears that virtually all of the financing for IPTV and iTV has been provided by you. Please tell us how you considered
the guidance in ASC 810-10-25-38G in your determination of primary beneficiary.</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">The Company respectfully advises the Staff that the
Company has considered and thoroughly analyzed the guidance of ASC 810-10-25-38G in determining the primary beneficiary of IPTV
and iTV.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">For IPTV, the Company considered the funding provided
to IPTV at the time of the divestiture as the amount needed to exit the unprofitable business. Without giving adequate funding
for IPTV operation for a period of time and giving up control to Jack Lu, the Company would not be able to exit the business. The
Company did not provide any further funding to IPTV after the divestiture. As stated in the responses to the Staff&rsquo;s comment
#2 above, the Company does not have the power to direct the activities that most significantly impact the economic performance
of IPTV.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">For iTV, even though virtually all of the financing
has been provided by UT, such financing was not adequate for UT to obtain control of iTV from Lin Song. Like many founders, even
though they contribute very little cash funding to their companies, Lin Song, COO and CTO did contribute intellectual property
rights and product designs at the initial start-up of iTV, and they could retain control and significant economic interests in
iTV. Giving Lin Song control and significant economic interest in iTV was the key to retaining Lin Song and his management team
to run the iTV business effectively. As the Company does not have the expertise to run the iTV business, in order for UT to protect
its investment in iTV, it is crucial to retain Lin Song and his management team.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">In late 2012 and early 2013, UT decided to invest
in iTV&rsquo;s convertible bond based on UT&rsquo;s review of the investment proposal made by Lin Song and his management team
and review of their performance against milestones proposed by iTV. UT made the investment in iTV&rsquo;s convertible bond with
the objective to protect and enhance UT&rsquo;s investment value in iTV. The objective was not for UT to take control or obtain
more power from the Lin Song.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">In June 2014, to further protect the Company&rsquo;s
investment value in iTV, UT made a general funding commitment. There were no specified terms in this general funding agreement.
Again, UT made this commitment with the objective to protect and enhance its investment value in iTV. Such general supporting commitment
did not give the Company any additional economic interest, rights or power over iTV.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Like any other company that may be interested in
investing in iTV, UT will need to negotiate terms on any further investments. There was no indication or guarantee that Lin Song
would be willing to give up control upon further funding. Finally, as stated in the responses to the Staff&rsquo;s comment #2 above,
the Company does not have the power or expertise to direct the activities that most significantly impact the economic performance
of iTV.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">As stated in ASC 810-10-25-38G, the fact that a reporting
entity&rsquo;s economic interest in a VIE is disproportionately greater than its stated power to direct the activities of a VIE
that most significantly impact the VIE&rsquo;s economic performance is not intended to be determinative in identifying a primary
beneficiary. We have considered all the interactions and transactions that we have with these two companies and concluded that
we do not have control over IPTV or iTV even though we have disproportionately greater economic interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"><B><I>&nbsp;</I></B></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B><I>4.</I></B></TD><TD><B><I>With regard to iTV, tell us how you considered your unilateral right, as holder of majority of outstanding preference
shares, to &ldquo;change the business scope of any group company&rdquo;, and approval right over iTV&rsquo;s ability to incur indebtedness
exceeding $5m in aggregate associated with convertible bond agreement, in the assessment of your power.</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">The Company respectfully advises the Staff that they
are not unilateral rights but veto rights. In other words, the Company cannot change the business scope of any group company of
iTV nor its incurring indebtedness exceeding $5 million in aggregate without obtaining majority approval of iTV&rsquo;s board but
can veto such change if proposed. When UT made the convertible bonds investment in iTV, according to the business model provided
by iTV, iTV would achieve breakeven in terms of cash flows by the end of 2014, provided that iTV achieved its milestones and received
the committed funding from UT as scheduled. Further, considering the business size and the $40 million valuation of iTV at the
time the Company invested in iTV through convertible bonds, the Company believes the $5 million threshold is high enough for iTV
management to run the business independently, without compromising the protection of its convertible bond investment. UT also prefers
that iTV gets future funding in the form of equity so that its convertible bond investments could be further protected. Therefore,
the Company considered such rights to be protective in nature, rather than participating rights as described in ASC 810-10-25-10.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B><I>5.</I></B></TD><TD><B><I>Please clarify whether you have any substantive kick-out rights as they relate to IPTV and iTV, and if applicable, please
identify any substantive kick-out or participatory rights that might prevent you from exercising that power.</I></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">The Company respectfully advises the Staff that the
Company does not have any substantive kick-out rights as they relate to IPTV or iTV. UT does not have the right or ability to remove
either Lin Song or Jack Lu, who has the power to direct the activities of iTV and IPTV that most significantly impact their economic
performance, respectively. As stated in ASC 810-10-25-38C, <I>&ldquo;a single reporting entity (including its related parties and
de facto agents) that has the unilateral ability to exercise kick-out rights or participating rights may be the party with the
power to direct the activities of a variable interest entity that most significantly impact the entity&rsquo;s economic performance.
Protective rights held by other parties do not preclude a reporting entity from having the power to direct the activities of a
variable interest entity that most significantly impact the entity&rsquo;s economic performance.&rdquo;</I> As described in the
prior response letter and above, UT only has protective rights in both iTV and IPTV and therefore the Company does not have the
power to direct the activities of either iTV or IPTV that most significantly impact their economic performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The Company hereby acknowledges that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>the Company is responsible for the adequacy and accuracy of the disclosure in the filing;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Staff comments or changes to disclosure in response to Staff comments do not foreclose the Commission from taking any action
with respect to the filing; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>the Company may not assert Staff comments as a defense in any proceeding initiated by the Commission or any person under the
federal securities laws of the United States.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">If you have any additional questions regarding
the 2013 Form 20-F, please contact the undersigned at +86 571 8192 0102, or our U.S. counsel, David Zhang of Kirkland &amp; Ellis,
at +852 3761 3318. Thank you.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Very truly yours,</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">UTStarcom Holdings Corp.</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</td>
    <TD STYLE="width: 5%">&nbsp;</td>
    <TD STYLE="width: 45%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>By:</td>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Min Xu</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Name: Min Xu</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Title: Chief Financial Officer</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in">&nbsp;</P>


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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
