VimpelCom Introduces Network Virtualization Across Five Markets
AMSTERDAM--(Business Wire/Korea Newswire) February 24, 2016 -- VimpelCom Ltd. (NASDAQ: VIP), the international communications and technology company that is committed to bringing the digital world to each and every customer, today announces plans to build a complete virtual network infrastructure providing 4G, 3G and 2G mobile data services to customers across five markets in 2016. VimpelCom has engaged ZTE Corporation (0763.HK / 000063.SZ), an international provider of telecommunications technology solutions, to build the new network environment.
ZTE’s virtual Evolved Packet Core (vEPC) network will be introduced in Kyrgyzstan and Laos in February 2016. Following these two markets, VimpelCom plans to introduce the fully virtualized network in Uzbekistan, Armenia, and Tajikistan during the course of 2016. With virtualization, the networks in the five VimpelCom markets will move from a legacy-heavy network made up of separate network elements to a common software-driven, lean infrastructure.
Yogesh Malik, Group Chief Technology Officer at VimpelCom said: “VimpelCom believes in instant innovation. Investing in innovative solutions to reinvent our network is high on the agenda as we transform into the digital operator of the future. We are convinced that virtualization represents the new way forward for the industry. The reinvention of the current network to one that is software-driven and asset-light plays an important part in our digital transformation and is a leap forward in bringing the digital world to each and every customer as they navigate their digital lives.”
Network Functions Virtualization (NFV) in the core network enables a more effective resource utilization and flexible maintenance for operators, and allows more flexibility in new network functions and product introductions, resulting in a seamless experience for our customers.
This release contains “forward-looking statements”, as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, our digital transformation, our plans to build and introduce a virtual network, and the expected timing, benefits and results of network virtualization. The forward-looking statements included in this release are based on management’s best assessment of the Company’s strategic and financial position and of future market conditions, trends and other potential developments. Forward-looking statements involve risks and uncertainties. The actual outcome may differ materially from these statements as a result of: continued volatility in the economies in our markets; unforeseen developments from competition; governmental regulation of the telecommunications industries; general political uncertainties in our markets; and government investigations or other regulatory actions and/or litigation with third parties. Certain other factors that could cause actual results to differ materially from those discussed in any forward-looking statements include the risk factors described in the Company’s Annual Report on Form 20-F for the year ended December 31, 2014 filed with the SEC and other public filings made by the Company with the SEC. The forward-looking statements speak only as of the date hereof, and the Company disclaims any obligation to update them or to announce publicly any revision to any of the forward-looking statements contained in these presentations, or to make corrections to reflect future events or developments.
VimpelCom (NASDAQ: VIP) is an international communications and technology company driven by a vision to unlock new opportunities for customers as they navigate the digital world. Present in some of the world’s most dynamic markets, VimpelCom provides more than 200 million customers with voice, fixed broadband, data and digital services. VimpelCom’s heritage as a pioneer in technology is the driving force behind a major transformation focused on bringing the digital world to each and every customer. VimpelCom offers services to customers in 14 markets including Russia, Italy, Algeria, Pakistan, Uzbekistan, Kazakhstan, Ukraine, Bangladesh, Kyrgyzstan, Tajikistan, Armenia, Georgia, Laos, and Zimbabwe. VimpelCom operates under the “Beeline”, “Kyivstar”, “WIND”, “Mobilink”, “banglalink”, “Telecel”, and “Djezzy” brands.
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