UTStarcom offloads its handset division

We don’t really hear much about Audiovox UTStarcom these days. In all the time I’ve spent staring at other peoples phones, I’ve come across but a handful of UTStarcom handsets. Am I in the minority here?

Regardless – someone out there thinks UTStarcom’s phones are worth a chunk of change. A group of private investors from AIG Investments has snatched up UTStarcom’s Personal Communications division for a cool $240 million, with an additional $50 million on the line be it that the deal proves profitable over the next three years.

Not much is changing, from what they’ve announced thus far: The new group will be known as Personal Communications Devices, LLC, the original management team is staying on board, and the main focus will continue to be on the manufacturing of North American market handsets.