DZS Selected by LG U+ to Provide Full Range of Fiber Access, Backhaul and Switching Solutions in South Korea

Rhea-AI Summary

DASAN Zhone Solutions (DZSI) has secured a significant $66 million contract with LG U+ for Fiber-to-the-Home solutions and 5G mobile backhaul switches. This three-year agreement, effective June 1, 2020, establishes DZSI as a strategic supplier, enhancing its market position. The collaboration aims for ultra-low latency in mobile services, addressing increasing demands from applications like 5G, AR/VR, and ultra HD video. With over 1200 clients globally, DZSI continues to innovate, fortifying its role in the hyper-connected landscape.

Positive

• Secured a $66 million contract with LG U+ for Fiber-to-the-Home and 5G solutions.
• Establishes DZS as a strategic supplier, enhancing future business opportunities.
• Affirms DZS's supportive role in the emerging hyper-connected broadband world.

Negative

• None.

ALAMEDA, Calif., June 02, 2020 (GLOBE NEWSWIRE) -- DASAN Zhone Solutions, Inc. (NSDQ: DZSI or “DZS”), a leading enabler of the emerging hyper-connected, hyper-broadband world, is proud to announce a new three-year, $66 million contract to supply LG U+ with Fiber-to-the-Home solutions and switches, including co-development of ultra-low latency 100 Gbps mobile backhaul switches for 5G mobile services. Starting June 1, 2020, this contract secures the position of DZS as a strategic supplier to LG U+ and provides the opportunity to continue to develop new business with them in the future.

“LG U+ continues to be one of the world’s most innovative and agile operators, and we are honored to be a close strategic supplier to them,” said Yung Kim, Chief Executive Officer, DZS. “We share a common vision that a new era of hyper-connectivity facilitated by hyper-broadband is upon us, and both companies are laser focused on meeting the opportunities and challenges of this new world head-on. We at DZS thrive on matching the promise of cutting-edge technology and innovation with service providers seeking to redefine how the world communicates, transacts, and entertains itself, and we look forward to helping leaders like LG U+ push the boundaries of what is possible.”

As a global provider of leading-edge access, 5G transport, and enterprise communications platforms, DZS is enabling the emerging hyper-connected, hyper-broadband world that arms service providers worldwide with the network resources and deployment freedom they need to lead in their markets and deliver an unrivaled communications experience. This contract with LG U+ highlights trends that DZS is seeing across its business as carriers expand their relationships with the company in areas ranging from traditional broadband access to switching, 5G, and enterprise. As new applications like 5G, AR/VR, autonomous driving, and ultra HD video begin to drive up network capacity and performance requirements and create opportunities for new services, DZS is finding new ways to engage and add value to its customers.

About DZS

DASAN Zhone Solutions, Inc. (NSDQ: DZSI or “DZS”) is a global provider of leading-edge access, 5G transport, and enterprise communications platforms that enable the emerging hyper-connected, hyper-broadband world. Over 1200 service providers, operators, and enterprises in over 120 countries have leveraged DZS innovation, open solutions, and agility to arm them with the network resources and deployment freedom they need to lead in their markets and deliver an unrivaled communications experience. With manufacturing based in the USA and Germany, engineering, service and support centers of excellence spread across the globe DZS is positioned to bring next-generation technologies and world-class solutions to service providers and enterprises who are poised to transform, compete and win. 

DASAN Zhone Solutions, the DZS logo, and all DZS product names are trademarks of DASAN Zhone Solutions, Inc. Other brand and product names are trademarks of their respective holders. Specifications, products, and/or product names are all subject to change.

For further information see: www.DZSI.com
DZS on Twitter: https://twitter.com/DASANZhone
DZS on LinkedIn: https://www.linkedin.com/company/dasanzhone/

Press Inquiries:
DZS Marketing
1350 South Loop Road, Suite 130
Alameda, CA 94502
Tel. +1 510-777-7000
Email: marketing@dasanzhone.com

This press release can be downloaded here.

FAQ

What is the recent contract value secured by DASAN Zhone Solutions (DZSI)?

DASAN Zhone Solutions secured a contract valued at $66 million.

Who is the client for DASAN Zhone Solutions' latest contract?

The client for the latest contract is LG U+.

When does the contract between DZSI and LG U+ begin?

The contract begins on June 1, 2020.

What technologies are included in DZSI's contract with LG U+?

The contract includes Fiber-to-the-Home solutions and 5G mobile backhaul switches.

What impact does the contract have on DZSI's market position?

The contract establishes DZSI as a strategic supplier and opens the door for future business opportunities.