BEIJING, April 28, 2011 /PRNewswire-Asia/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today announced it has signed three major content licensing agreements. Under the agreements, it is now authorized to bundle and market these popular video games with its motion gaming capable mobile phones, 17Vee motion gaming controllers and 17Vee console box. The gaming titles include Prince of Persia, Rayman Raving Rabbits and Tom Clancy H.A.W.X.
Mr. Tony Kong, CEO of TechFaith's gaming business-798 Entertainment, said, "This is a major development for us. Demand has been very strong from consumers and partners for our line of motion gaming controllers and motion gaming enabled mobile phones. We have a uniquely differentiated product in the market that offers high value at a reasonable price. We have been shipping a combined 40,000 to 50,000 hardware units per month since last December. We expect this to further accelerate when we launch our 17Vee motion gaming console box later in May. The importance of today's licensing agreements is that they will immediately make our gaming portfolio even more compelling by expanding our content catalog. We will pursue other content licensing agreements given the power of content to driver faster adoption rates and higher usage levels."
TechFaith (NASDAQ: CNTF) has three primary businesses. Under the TechFaith umbrella, the Company is a leading global ODP (Original Developed Product) mobile handset provider. Under its TecFace brand, the Company is a leading developer of specialized mobile phones for differentiated market segments, including the rapidly growing Smartphone market targeting Enterprise users and Operators through its QIGI brand; Outdoor and Sports enthusiasts through its Jungle brand; and the Teen market through licensed brands. Under the Company's 17Vee brand, the Company has built a leading, intellectual property based motion gaming business ranging from Bluetooth enabled motion gaming controllers and software to a recently launched proprietary set-top motion game box. For more information, please visit www.techfaithwireless.com, www.17vee.com and www.798game.com.
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.
SOURCE China TechFaith Wireless Communication Technology Limited