Qiao Xing Mobile and VIA Technologies, Inc. Establish Strategic ...

Tag : Mobile Phone CDMA
Qiao Xing Mobile and VIA Technologies, Inc. Establish StrategicCooperation
BEIJING, Aug. 13 /Xinhua-PRNewswire-FirstCall/ -- Qiao Xing Mobile Communication Co., Ltd. ("Qiao Xing Mobile" or"the Company") (NYSE: QXM), one of China's leading domesticmanufacturers of mobile handsets through its subsidiary CEC TelecomCo., Ltd. ("CECT"), today announced that it has establishedstrategic cooperation with VIA Technologies, Inc. ("VIA"), acompany registered on the Taiwan Stock Exchange (TSE 2388) and asupplier of market-leading core logic chipsets and completeplatform solutions. Qiao Xing Mobile's subsidiary CECT signedcooperation agreement with VIA. Based on the agreement, VIA willsupply CDMA chipsets to CECT which will be used in at least twoCDMA mobile phones that CECT plans to release in 2008. In addition,CECT and VIA will work together towards the bundling of the CDMAmobile phones with China Telecom.
Mr. Wu Zhiyang, chairman of Qiao Xing Mobile, commented, "Thereorganization of the telecommunication industry in China bringsgreat opportunities for the development of the CDMA mobile handsetmarket. Bundling with mobile operators will be an importantdistribution channel in the future and the CDMA mobile phone marketis expected to grow significantly due to the participation of ChinaTelecom. CECT will cooperate with VIA to develop differentiatedCDMA mobile handsets equipped with unique features and will focuson the bundling with mobile operators in the distribution of theCDMA phones in China. We believe this strategic cooperation and thenew market opportunity will help to enhance our growth andcompetitiveness."
About Qiao Xing Mobile Communication Co., Ltd.:
Qiao Xing Mobile Communication Co., Ltd. is one of the leadingdomestic manufacturers of mobile handsets in China in terms of unitsales volume. The Company manufactures and sells mobile handsetsbased primarily on Global System for Mobile Communications, or GSM,global cellular technologies. It operates its business primarilythrough CEC Telecom Co., Ltd., or CECT, its 96.6%-owned subsidiaryin China. Currently, all of its products are sold under the "CECT"brand name. Through its manufacturing facility in Huizhou,Guangdong Province, China, and two research and development centersin Huizhou and in Beijing, the Company develops, produces andmarkets a wide range of mobile handsets, with increasing focus ondifferentiated products that generally generate higher profitmargins. For more information, please visit http://www.qxmc.com .
Safe Harbor Statement
This announcement contains forward-looking statements, as definedin the safe harbor provisions of the U.S. Private SecuritiesLitigation Reform Act of 1995. In some cases, these forward-lookingstatements 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 historicalfacts, including statements about Qiao Xing Mobile's beliefs andexpectations, are forward-looking statements. Forward-lookingstatements involve inherent risks and uncertainties. A number offactors could cause actual results to differ materially from thosecontained in any forward- looking statement. Information regardingthese factors is included in our filings with the Securities andExchange Commission. Qiao Xing Mobile does not undertake anyobligation to update any forward-looking statement, except asrequired under applicable law. All information provided in thispress release is as of August 13, 2008, and Qiao Xing Mobileundertakes no duty to update such information, except as requiredunder applicable law.
SOURCE Qiao Xing Mobile Communication Co., Ltd.