Qiao Xing Mobile, TechFaith to co-launch 3G mobile phones in China
Qiao Xing Mobile Communication Co., a China-based domestic manufacturers of mobile handsets operating its business primarily through its subsidiary, CEC Telecom Co. (CECT), announced that it will work with China TechFaith Wireless Communication Technology Limited, an original developed product (ODP) provider focused on research and development of cell phone solutions, to co-launch high-end 3G mobile phones in China.
Under the terms of the agreement, TechFaith will provide total WCDMA and EV-DO solutions to Qiao Xing Mobile for the development of high-end 3G handsets that will be marketed under the Qiao Xing Mobile’s VEVA brand. The handsets are expected to launch in China in the second quarter of 2009.
Wu Zhi Yang, Chairman of Qiao Xing Mobile, commented, ”Chinese government has just authorized three major Chinese operators to operate 3G business and the 3G mobile phone market in China is expected to grow significantly. To capture the growth opportunity, we will make full use of VEVA brand advantage in the market and will cooperate with TechFaith to develop high-end WCDMA and EV-DO handsets under our VEVA brand. We believe that the introduction of these high-end 3G handsets will help to further raise the profile of our VEVA brand, as well as, enhance our profitability and growth.”
Defu Dong, Chairman and Chief Executive Officer of TechFaith, said, ”Developing high-end WCDMA and EV-DO phones is an important step in entering the super high-end handset market in China. Even in this tough economic period, the Chinese consumers still have very strong purchasing power and a large appetite for luxury goods. Qiao Xing Mobile has successfully launched several models of high-end luxury GSM phone models under its VEVA brand and we believe that the VEVA brand will provide us with a solid platform to penetrate the high-end 3G market in China. We also believe that pursuing a high-end product strategy will help to maintain the profit margins of both companies during this period of economic slowdown.”
For more information, please visit www.qxmc.com/
