S Korea's Curitel Communs Gets $1.6Billion Deal From UTStarcom

SEOUL (Dow Jones)--Curitel Communications Inc. (063350.SE) has got a $1.6 billion deal to supply mobile phones to UTStarcom, Curitel said Monday.

The deal is valid for one year and the phones supplied to UTStarcom, formerly known as Audiovox Communication Corporation, will be distributed to 12 companies in the U.S., including Verizon and Sprint, the Korean company said in a disclosure to the financial authorities.

At 0215 GMT, shares of Curitel Communications, South Korea's third-largest mobile handset maker, were trading 8.1% higher at KRW1,795 per share, outperforming the Korea Composite Stock Price Index which was down 0.5%.

-By Sue Chang, Dow Jones Newswires; 822-732-2165; sue.chang@dowjones.com

(END) Dow Jones Newswires "

Posted to the site on 20th December 2004