SOURCE: China TechFaith

China Techfaith

July 08, 2010 07:30 ET

TechFaith Expands Motion Games Effort With Establishment of 17Wee

BEIJING--(Marketwire - July 8, 2010) -  China Techfaith Wireless Technology Limited (NASDAQ: CNTF) ("TechFaith") today announced the expansion of its motion games effort with the establishment of a new subsidiary focusing on motion games. The new entity, 17Wee, is an indirect subsidiary of TechFaith under 798 Entertainment Beijing Co Ltd. 17Wee was established with the objective of creating the largest platform in China for the development of motion terminals, controllers, accessories and the distribution of the motion games.

Mr. Defu Dong, Chairman and CEO of TechFaith, and the CEO of 798 Entertainment, said, "The formation of 17Wee is an important step in 798 Entertainment's business development strategy. Among 798 Entertainment's subsidiaries, 798 Game is focusing on the development of PC online games and publishing, while 798 Mobile is focusing on the development of mobile phone games. 17Wee will now focus on the development of motion games. We believe the business opportunities in the motion game area are very big and we are striving to develop the motion gaming business to become our core gaming business."

Mr. Defu Dong further commented, "Gamers visit mobile phones and TV set-top game boxes featuring motion sensor capabilities for both gaming and fitness. It is very appealing to gamers to get the real time motion feedback these systems offer. Importantly, the motion sensor capabilities make the games much more popular, entertaining, engaging and exercise oriented. By having a dedicated company focusing on this market, we are confident that 798 Entertainment will build its business in China."

About us

TechFaith (NASDAQ: CNTF) is a China-based original developed product ("ODP") provider focused on the original design and sales of mobile phone products. TechFaith is targeting to build it to be a branded mobile phone specialist in differentiated market segments in the China market. TechFaith is also striving to be a leading PC and online gaming business through its wholly-owned subsidiary, 798 Entertainment Limited.

  • 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.
  • With 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. For more information, please visit www.techfaithwireless.com.
  • 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.
  • TechFaith is targeting both the mobile and online PC gaming markets through its websites www.798uu.com and www.798game.com with gaming content developed internally, co-developed and licensed from third parties.

Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident," "outlook" and similar statements. Among other things, the business outlook and strategic and operational plans of TechFaith and management quotations contain forward-looking statements. TechFaith may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on Forms 20-F and 6-K, etc., in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about TechFaith's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, those risks outlined in TechFaith's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. TechFaith does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Contact Information

  • CONTACTS:
    In China:
    Jay Ji
    China Techfaith Wireless Communication Technology Limited
    Tel: 86-10-5822-8390
    ir@techfaith.cn

    In the U.S.:
    David Pasquale
    Global IR Partners
    Tel: +1 914-337-8801
    cntf@globalirpartners.com