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(EMAILWIRE.COM, September 05, 2010 )
NEW YORK,NY -- CNTF has risen up by $029 (8.82%) and is currently trading at $3.51. It has the current trading volume of 274,548K and the market capitalization of 155.6 million shares.
Company offers feature phones and smart phones, wireless modules, and other electronic components, which include data cards, printed circuit board assemblies, and wireless software and applications; and mobile handset design services based on existing platforms and new platforms, as well as successor model design.
CNTF also develops mobile game services and mobile phone game design services to the manufacturers of branded mobile phones; and online games, including MMORPG games. The company sells its products and services directly to mobile handset brand owners.
It has a joint venture with QUALCOMM to develop application software for wireless devices. The company was founded in 2002 and is based in Beijing, the People's Republic of China.
Recently, CNTF announced that Mr. Defu Dong, Chairman and CEO of TechFaith, and Ms. Ouyang Yuping, TechFaith's Chief Financial Officer, will be presenting and meeting with institutional investors in both one-on-one and group meetings at Rodman & Renshaw's Annual Global Investment Conference on Tuesday, September 14, at the The New York Palace Hotel in New York City.
China Techfaith Wireless Communication Technology Ltd. said Tuesday that its second-quarter profit climbed 62 percent as the Chinese cell phone designer's product sales rose.
For the April-June quarter, it earned $7.3 million, or 13 cents per ADS, compared with $4.5 million, or 10 cents per ADS, in the year-ago quarter.Revenue rose nearly 32 percent year-over-year to $65.5 million. The company sold 691,000 mobile products in the quarter, helped by demand in Europe, China, India and Southeast Asia.
TechFaith engages in the development and production of middle to high end handsets and tailor made handsets. TechFaith's original developed products include:
(1) multimedia phones and dual mode dual card handsets of multiple wireless technology combination such as GSM/GSM, GSM/CDMA, GSM/WCDMA, GSM/TD-SCDMA and UMTS/CDMA;
(2) Windows-based smartphones and Pocket PC phones; and
(3) handsets with interactive online gaming and professional game terminals with phone functionality.
CNTF has the capability of developing Middleware Application MMI/UI software on 2G/2.5G(GSM/GPRS, CDMA1X), 3G(EV-DO, WCDMA/UMTS, TD-SCDMA) and 3.5G(HSDPA) communication technologies, TechFaith is able to provide Middleware Application MMI/UI software packages that fulfill the specifications of handset brand owners and carriers in the global market.
TechFaith is targeting to be branded mobile phone specialist for differentiated market segments in China market, such as under its wholly-owned subsidiary brand name QIGI for smartphone business which targets enterprise users and operator tailored market, under Glomate brand, selling other licensed brand names for girls and teenagers.
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Source: EmailWire.com
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