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OFFON

INFINERA CORPORATION

(INFN)
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KT Corp :oration Deploys Infinera Solution for Nationwide Backbone Network

09/08/2020 | 09:37am EDT

Sunnyvale, Calif. -- Infinera (NASDAQ: INFN) announced today that KT Corporation (KT), South Korea's largest telecommunications company and formerly Korea Telecom, deployed the Infinera 7300 Series Multi-haul Transport Platform in its national backbone network to support a nationwide rollout of 5G services. KT selected the 7300 platform to provide a scalable core network solution optimized for the performance requirements of bandwidth-intensive end-user services such as 5G.

KT is a global leader in offering next-generation high-bandwidth services and 5G technology. KT deployed the first phase of its 5G network in late 2018, launching new services in the greater Seoul metropolitan area. KT plans to expand its 5G network nationwide this year to include 24 major cities, as well as key transport routes such as expressways, subways, high-speed railways, large universities, and neighborhood shopping areas.

Infinera's solution for KT includes support for secure and reliable 200G transmission across KT's nationwide core infrastructure. The 7300 coherent packet optical transport system offers a compelling pay-as-you-grow approach to network scaling. This model benefits KT by lowering initial costs, reducing equipment sparing costs, and providing the foundation for cost-effective scalability.

"Infinera's advanced optical solutions enable KT to efficiently use its fiber and optimize the transmission of optical channels, lowering the total cost of network ownership, and helps KT maintain its global leadership in 5G," said Nick Walden, Senior Vice President, Worldwide Sales at Infinera. "With Infinera's innovative solutions, operators like KT pave the way for an agile and scalable infrastructure to support significant increases in bandwidth."

"We are greatly honored to be appointed to deliver Infinera's cutting-edge and robust solution to support KT's national backbone network to support 5G," said Choi Yong Seok, CEO & Chairman of Daesung Infotech.

Infinera, in partnership with local partner Daesung Infotech, worked closely to offer the best network solution to fit KT's needs.

Contacts:

Media:

Anna Vue

Tel. +1 (916) 595-8157

avue@infinera.com

George Rickman

Tel. +1672 550 131

Grickman@zonicgroup.com

Investors:

Michael Bowen, ICR, Inc.

Tel. +1 (203) 682-8299

Michael.Bowen@icrinc.com

Marc P. Griffin, ICR, Inc.

Tel. +1 (646)-277-1290

Marc.Griffin@icrinc.com

About Infinera

Infinera is a global supplier of innovative networking solutions that enable carriers, cloud operators, governments and enterprises to scale network bandwidth, accelerate service innovation and automate network operations. The Infinera end-to-end packet-optical portfolio delivers industry-leading economics and performance in long-haul, subsea, data center interconnect and metro transport applications. To learn more about Infinera visit www.infinera.com, follow us on Twitter @Infinera and read our latest blog posts at www.infinera.com/blog.

Infinera and the Infinera logo are registered trademarks of Infinera Corporation.

This press release contains forward-looking statements including, but not limited to the potential technical, operations and financial benefits provided when using Infinera products. These statements are not guarantees of results and should not be considered as an indication of future activity or future performance. Actual results may vary materially from these expectations as a result of various risks and uncertainties. Information about these risks and uncertainties, and other risks and uncertainties that affect Infinera's business, is contained in the risk factors section and other sections of Infinera's Quarterly Report on Form 10-Q for the Fiscal Quarter ended June 27, 2020 as filed with the SEC on August 6, 2020, as well as any subsequent reports filed with or furnished to the SEC. These reports are available on Infinera's website at www.infinera.com and the SEC's website at www.sec.gov. Infinera assumes no obligation to, and does not currently intend to, update any such forward-looking statements.

.

(C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE

Stocks mentioned in the article
ChangeLast1st jan.
INFINERA CORPORATION 4.45% 10.32 Delayed Quote.-1.53%
KT CORPORATION -0.46% 32700 End-of-day quote.36.25%
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Financials (USD)
Sales 2021 1 429 M - -
Net income 2021 -106 M - -
Net Debt 2021 363 M - -
P/E ratio 2021 -19,1x
Yield 2021 -
Capitalization 2 116 M 2 116 M -
EV / Sales 2021 1,73x
EV / Sales 2022 1,55x
Nbr of Employees 3 050
Free-Float 98,0%
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Mean consensus OUTPERFORM
Number of Analysts 14
Last Close Price 10,32 $
Average target price 10,92 $
Spread / Average Target 5,84%
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Managers and Directors
NameTitle
David W. Heard Chief Executive Officer & Director
Nancy Erba Chief Financial Officer
George Andrew Riedel Chairman
Parthiban Kandappan Chief Technology Officer
Greg Greco Senior VP-Global Research & Development
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