Science & Technology
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Published in Science and Technology on Monday, April 6th 2009 at 9:13 GMT, Last Modified on 2009-11-03 08:53:53 by Market Wire
BEIJING--(Marketwire - April 6, 2009) - China Techfaith Wireless Communication Technology Limited (
Barbie's famous face has made Barbie™ more than the most popular doll in the world. Today, Barbie™ is a worldwide fashion icon, pop princess and a global brand powerhouse. The development partnership announced today by Dmagicmobile and TechFaith plans to capitalize on the Barbie™ 50th Anniversary to deliver the first high-end customized Barbie™ phone to the market, targeting women of style.
Mr. Defu Dong, Chairman and Chief Executive Officer of TechFaith, said, "In order to enter the high-end cell phone market, our objective is to develop a high-end cell phone with a market price above RMB10,000. The luxury market in mainland China continues to grow in sophistication, even during tough economic times. Consumers in China show a strong desire for luxury products and have an appreciation for significant luxury brands. Barbie™ is an internationally famous brand celebrating its 50th anniversary, making 2009 the perfect time to launch the first customized Barbie™ phone. Designed for women, the new Barbie™ phone's superior technology will be encased in an elegant exterior."
Mr. Samuel Pang, President of Dmagicmobile, said, "As the official licensee of Mattel, Inc., we are excited to partner with TechFaith on the development of the Barbie™ Mobile Phone collection in China. This project marks the beginning of a new era in the China mobile phone market by meeting the technology demands of fashion-conscious women. We are confident that the Barbie™ Mobile Phone will be successful due to its superior technology, innovative design and strong brand equity. The Barbie™ brand is enjoying global recognition as a true fashion icon during its 50th anniversary year. We are excited that the Barbie™ Flagship Store in Shanghai, located at 550 Huai Hai Road, will host the launch of the new high-end phone. With the support of TechFaith, we believe this project will have a bright future for all partners."
The Barbie™ Mobile Phone is currently in development and is expected to be launched in Q3 2009.
BARBIE and associated trademarks and trade dress are owned by, and used under license from, Mattel, Inc. ©2009 Mattel, Inc. All Rights Reserved.
About TechFaith
TechFaith (
With the capability of developing 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 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 ]
About Dmagicmobile
D Magic Mobile (Shanghai) Incorporation ("Dmagicmobile") is a wholly foreign-owned enterprise registered in Shanghai. As the cooperative partner of a number of renowned multinational corporations including Mattel, Inc. and several toys companies, Dmagicmobile specializes in the niche market segment. Supported by a team of over 100, Dmagicmobile provides comprehensive solutions of research and development, ID design, UI design, packaging solutions, product strategies, after-sale services and sales and marketing programs for the mobile telecommunications sector. For more information, please visit: [ www.dmagicmobile.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 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, the global economic downturn and a further slowdown in the growth of China's economy, TechFaith's limited operating history, TechFaith's ability to effectively manage its business operations and control cost, loss of TechFaith's customers and claims against TechFaith due to defects in its designs or other reasons, TechFaith's limited insurance coverage and its exposure to product liability and product recall, TechFaith's ability to retain existing or attract additional domestic and international customers, TechFaith's earnings or margin declines, failure to compete against new and existing competitors, and other 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.
