Ethernet over E1 converter (also called E1 network bridge) is to transmit Ethernet data over E1 network (PDH,SDH network etc). The Ethernet port connect to terminal device,computer,Ethernet switch,Ethernet router etc. The device's E1 port connect to mail network(PDH SDH etc).
E1 over IP (TDMOIP) is to transmit the E1 data over ethernet IPnetwork. It transports the legacy E1 data through the existing Ethernet or IP network. The typical application is transmit voice and data over wireless radio network.
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E1 is coaxial cable @2Mbps, compared to ethernet@10/100Mbps, Coaxial cable very expensive compared to ethernet.