PARAMUS, New Jersey, April 24, 2013 /PRNewswire/ --
Ceragon Networks Ltd. (NASDAQ: CRNT), the #1 wireless backhaul specialist, today announced that a leading mobile operator in the Southern Cone region of Latin America has placed new orders for Ceragon products and services valued at more than $8 million. This network upgrade project, which has been ongoing since early 2012, is based on Ceragon's leading short haul and long haul solutions and will enable a range of 3G and future 4G services to millions of users across the Southern Cone. The project is expected to be completed by Q3 2013.
Capacity expansion is a key factor in this network upgrade project, as Latin America continues to experience a growing demand for broadband services. Utilizing Ceragon's FibeAir IP-10 and Evolution Long Haul solutions will help connect new 3G sites while expanding the capacity of the network's backbone.
"The expanded order for products and services from a premier operator is further validation of the vision we have for the Latin America region," said Ira Palti, President & CEO of Ceragon Networks. "Increased backhaul density helps our customers deliver connectivity to tens of millions of users, sometimes in areas with no other options for broadband connectivity. Building on this established relationship, Ceragon continues to deepen its presence in the Southern Cone region of Latin America."According to the GSMA, mobile broadband connections in Latin America are forecast to top 150 million in early 2013, accounting for about one in five of the region's mobile subscriptions. Growth in smartphones and data has been achieved despite (in global terms) a relatively late migration to 4G-LTE. In the Southern Cone, Uruguay and Paraguay are the only countries to have started LTE migration. GSMA predicts that Argentina and Chile will be big growth areas in 2013 as LTE initiatives are launched. About Ceragon Networks Ltd.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts