NEW YORK, Aug. 2, 2005 (PRIMEZONE) -- Telestone Technologies Corporation (AMEX:TST) today announced it will open a California-based office to explore and evaluate opportunities for participation in the U.S. wireless infrastructure market.
The office, which is scheduled to open during the fourth quarter 2005, will first conduct market research and explore various avenues for the formation of strategic partnerships with Telestone's existing global partners and U.S. wireless infrastructure companies.
Upon completion of this exploratory phase and pending a positive evaluation of its results, Telestone will formulate an appropriate business strategy for pursuing the U.S. market.
"This is a strategic decision aimed at expanding our growth opportunities," said Mr. Han Daqing, President and Chief Executive Officer. "We believe the U.S. wireless market remains underpenetrated from a coverage perspective."
"Consequently, there may be opportunities for us to participate with our global partners in the continued U.S. build-out of 3G services, as well as in other areas in which our technological and research capabilities may apply."
Telestone is currently one of four major suppliers of wireless coverage equipment and services to China Mobile and China Unicom, the two largest wireless network carriers in the PRC. TST also is working with China Ericsson to develop a series of 3G products for use on that company's wireless network platforms in China, other southeast Asian countries and India.
Telestone Technologies Corporation is a leading provider of wireless infrastructure solutions and equipment to major telecom companies in the Peoples Republic of China. The company's solutions and equipment are applied in a variety of indoor and outdoor environments including hotels, residential estates, office buildings, airports, exhibition centers, underground stations, highways and tunnels. For additional information, please go to www.telestonetech.com.
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