OAKLAND, Calif., Dec. 03, 2018 (GLOBE NEWSWIRE) -- DASAN Zhone Solutions, Inc. (NASDAQ: DZSI), a global leader in fiber access transformation for enterprise and service provider networks, announced that its Korean business unit DASAN Network Solutions has been selected by LG U+ to supply Fiber-to-the-Home solutions. Valued at over $40 million, the award includes switches from DZS that will serve in the access layer of LG U+ FTTH networks. The contract reinforces DZS’s position as a preferred supplier and strategic partner for the operator.
DZS signed a three-year preferred supplier contract with LG U+ on the March 29th, 2018. The supply period for FTTH solutions under this contract will be also be 3 years, from December 1, 2018 to November 30, 2021. As a global leader of advanced FTTX solutions, DZS is focused on offerings that empower service providers worldwide to scale their FTTH services in response to increasing demands driven by internet-based video services.
“Our team remains focused on developing solutions that support the acceleration of FTTH deployments, offering the best possible Internet connection experience.” said Yung Kim, Chief Executive Officer, DZS. “With positive references from Tier-1 operators including LG U+, we are pleased to be a vendor of choice for solutions that advance the state of the art in telecommunications networks.”
The LG U+ FTTH award builds atop DZS’s prior selection for 5G Wireless Backhaul solutions, the result of co-development of ultra low latency 100G mobile backhaul switches for 5G mobile services. First products have been delivered to LG U+ for new 5G services for deployment in the Seoul area, in preparation for deployment across its national network.
About DASAN Zhone Solutions, Inc.
DASAN Zhone Solutions, Inc. (NASDAQ: DZSI) is a global leader in network access solutions for service provider and enterprise networks. The company provides a wide array of reliable, cost-effective networking technologies—including broadband access, mobile backhaul, Ethernet switching, Passive Optical LAN, and software-defined networks—to a diverse customer base that includes more than 1,000 of the world’s most innovative network operators. DASAN Zhone Solutions is headquartered in Oakland, California, with operations in more than 20 countries worldwide.
DASAN Zhone Solutions, the DASAN Zhone Solutions logo, and all DASAN Zhone product names are trademarks of DASAN Zhone Solutions, Inc. Other brand and product names are trademarks of their respective holders. Specifications, products, and/or products names are all subject to change without notice.
Forward-Looking Statements
This press release contains forward-looking statements that are subject to the safe harbors created under federal securities laws. Words such as “anticipate,” “believe,” “expect,” “intend,” “may,” “will,” and similar expressions are intended to identify forward-looking statements. In addition, forward-looking statements include statements that refer to the Company’s relationship and future business with LG U+ and growth opportunities in Korea. Actual results could differ materially from those expressed in the forward-looking statements. Factors that could cause actual results to differ include commercial acceptance of the Company’s products; competition in the communications equipment market; the Company’s ability to execute on its strategy and operating plans; and economic conditions. See also the risk factors in the Company’s Form 10-K and other SEC filings available at www.sec.gov. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update or revise any forward-looking statements for any reason.
Media Contact
DASAN Zhone Solutions
Mario Blandini
Head of Global Marketing
Phone +1 510.777.7044
Fax +1 510.777.7001
mblandini@dasanzhone.com