Qiao Xing Mobile and Datang Telecom Technology Co., Ltd. Establish Strategic Cooperation
BEIJING, Feb. 23 /PRNewswire-Asia-FirstCall/ -- Qiao Xing Mobile
Communication Co., Ltd. ("Qiao Xing Mobile" or "the Company") (NYSE: QXM), one
of China's leading domestic manufacturers of mobile handsets through its
subsidiary CEC Telecom Co., Ltd. ("CECT"), today announced that it has
established strategic cooperation with Datang Telecom Technology Co.
("DATANG"), Ltd, a company listing on the Shanghai Stock Exchange (Ticker:
600198) and a leading supplier of TD-SCDMA chipsets. Qiao Xing Mobile's
subsidiary CECT signed the cooperation agreement with DATANG. Based on the
agreement, DATANG will supply TD-SCDMA chipsets to CECT, which will be used in
at least two TD-SCDMA mobile phones VAVA T3 and VAVA T6, which CECT plans to
release in 2009. T3 and T6 will allow users to experience the full range of 3G
content, including video conferencing and high-speed internet functions. In
addition, T6 will equip HSDPA, GPS and CMMB mobile TV functions. T3 has begun
an operation test with China Mobile.
Mr. Wu Zhiyang, chairman of Qiao Xing Mobile, commented, "Bundling with
mobile operators will be an important distribution channel in the future and
the TD-SCDMA mobile phone market is expected to grow significantly. CECT will
cooperate with DATANG to develop differentiated TD-SCDMA mobile handsets
equipped with unique features and will focus on the bundling with mobile
operators in the distribution of the TD-SCDMA phones in China. We believe this
strategic cooperation and the new market opportunity will help to enhance our
growth and competitiveness.''
About Qiao Xing Mobile Communication Co., Ltd.:
Qiao Xing Mobile Communication Co., Ltd. is one of the leading domestic
manufacturers of mobile handsets in China in terms of unit sales volume. The
Company manufactures and sells mobile handsets based primarily on Global
System for Mobile Communications, or GSM, global cellular technologies. It
operates its business primarily through CEC Telecom Co., Ltd., or CECT, its
96.6%-owned subsidiary in China. Currently, all of its products are sold under
the "CECT" and ''VEVA'' brand names. Through its manufacturing facility in
Huizhou, Guangdong Province, China, and two research and development centers
in Huizhou and in Beijing, the Company develops, produces and markets a wide
range of mobile handsets, with increasing focus on differentiated products
that generally generate higher profit margins. For more information, please
visit http://www.qxmc.com .
Safe Harbor Statement
This announcement contains forward-looking statements, as defined in the
safe harbor provisions of the U.S. Private Securities Litigation Reform Act of
1995. In some cases, these forward-looking statements can be identified by
words or phrases such as "aim," "anticipate," "believe," "continue,"
"estimate," "expect," "intend," "is /are likely to," "may," "plan,"
"potential," "will" or other similar expressions. Statements that are not
historical facts, including statements about Qiao Xing Mobile's beliefs and
expectations, are forward-looking statements. Forward-looking statements
involve inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement. Information regarding these factors is included in
our filings with the Securities and Exchange Commission. Qiao Xing Mobile does
not undertake any obligation to update any forward-looking statement, except
as required under applicable law. All information provided in this press
release is as of February 23, 2009, and Qiao Xing Mobile undertakes no duty to
update such information, except as required under applicable law.
For more information, please contact:
Ma Tao
Qiao Xing Mobile Communication Co., Ltd.
Tel: +86-10-8219-3706
Email: matao@qxmc.com