President and CEO, UTStarcom NET WORTH $2 million AGE 43 ADDRESS 1275 Harbor Bay Parkway, Suite 100, Alameda, Calif. BIO With
Chinese roots and a U.S. education, Lu believes he has the right
stuff to succeed in China's fiercely competitive telecom market.
"We have found the right partners and the right product mix for
China, but we believe that technology resides in the U.S.," Lu
says. UTStarcom, which supplies fiber-optic equipment and other
telecom products to Chinese phone companies, has been making
waves with its international approach. As he takes on what he
calls "old style" telecom companies, Lu is counting on
UTStarcom's ability to replace outdated technology with something
better and cheaper. So is one of his high-profile investors:
Japanese software titan Masayoshi Son (see No. 17), an old pal
from Lu's undergrad days at the University of California,
Berkeley, who holds a large stake in UTStarcom. 1998 POWER PLAY Now that he's armed China with the gear for a clear connection,
Lu hopes the country can make money off it using the programs
he's peddling. His recent software push to telephone companies:
features such as 800 numbers and telebanking. PLACE YOUR BETS Lu
plans to take UTStarcom public, but he isn't saying when. Still,
investors should take note. With a toehold in the world's fastest
growing market and headquarters in the U.S., UTStarcom investors
will benefit from the potential of emerging markets with the
safeguards of U.S. regulations.
