January 15th, 2008 by Arjan Olsder Posted in Companies & M&A | No Comments »
TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF)
announced the start of TechFaith Tech-Interactive Limited, a new mobile
gaming and content subsidiary.
With the new subsidiary, TechFaith hopes to start serving the Chinese and global mobile content and gaming markets. For this, the company has set-up three content studio’s in China. The company will mainly focus on Windows Mobile phones and online mobile games. The company will try to launch mainly non-branded mobile games.
Mr. Defu Dong, CEO of TechFaith, said, "TechFaith successfully differentiated itself from traditional players in the handset industry through our hybrid ODP business model. Along the way, we have closely monitored trends and opportunities in the related wireless content sector. We continue to believe this sector has strong growth potential and view wireless online games as a logical place to start penetrating the broader wireless content sector. TechFaith’s advantage in handset technology development and research will facilitate our ability to test and run robust content on a variety of platforms. Importantly, we expect enriched content will help increase the average selling price of our current mobile products. Finally, game services and game terminals will be another source of new revenue. By launching TechFaith Tech-Interactive Ltd. as a wholly owned subsidiary we will be able to incorporate technologies for the convergence of cable and wireless networks, while leveraging our existing scale and relationships to accelerate growth at home and abroad."
