UTStarcom said it's shifting its core business from WCDMA technology to IPTV. The company said it will not completely abandon its 3G work, but because of China's delay in issuing 3G licenses, the company needs to concentrate on technologies that bring in direct profits. Surprisingly, it sees IPTV as one such technology. The company attributes its recent poor performance as a motivating factor for new direction. UTStarcom will focus on IPTV, personal handset systems (PHS) and mobile phones. The company said IPTV should start to bring in serious revenue next year, and since it's investing $1.25 billion in the technology, let's hope they're right.

For more on UTStarcom's shift from WCDMA to IPTV:
- take a look at this press release