Orckit continues push into Asia with Thailand office

New executive Monchai Kunwattanakorn: Advanced telecommunication services are just starting to ramp up in Thailand, Laos and Myanmar.”

9 March 10 17:10, Globes' correspondent

Telecommunications equipment maker Orckit Communications Ltd. (Orckit-Corrigent) (Nasdaq: ORCT; TASE: ORCT) has established a new office in Thailand, as it continues to expand its presence in Asia and its focus on that region.

The company has also appointed former Nortel and Ericsson executive Monchai Kunwattanakorn as the new VP Sales for Thailand, Laos and Myanmar, where he will lead the new sales office, based in Bangkok. Kunwattanakorn said, "IPTV, mobile real-time content and other advanced telecommunication services are just starting to ramp up in Thailand, Laos and Myanmar.”

Orckit vice president corporate sales Oren Tepper said, “Together with our existing offices in Japan and Korea, as well as our new offices in the Philippines and India, we now have a more solid presence in APAC, demonstrating our commitment and investment in this market.”

According to Orckit, the fixed and mobile telecommunication market in Thailand continues to grow due to increasing demand for residential, enterprise and mobile services.

Orckit shares fell 6% to $ 4.53 by noon in New York, giving a market cap of $75 million.

Published by Globes [online], Israel business news - www.globes-online.com - on March 9, 2010

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