Monday, China TechFaith (CNTF), a technology based company, announced that it has entered into a strategic cooperation deal with aigo for the operator tailored market in China.
As per the terms of the deal, TechFaith would offer total solutions products, including CDMA1X/EVDO and UMTS/HSDPA, under the aigo brand name and through aigo's sales channels for operator tailored market in China.
TechFaith and aigo also revealed that aigo has won a bid from a large operator in China for the procurement of CDMA phones, the delivery of which is expected in the fourth quarter 2008.
TechFaith further noted that aligning with aigo combines the market advantages of both companies and offers the Chinese market with great products under a well-known brand name. Diversifying its product offering with aigo, through their sales channels, solidifies its market position in the highly competitive mobile phone market and provides compelling value to its customers.
Feng Jun, President of aigo said, "Our collaboration with TechFaith is an amazing opportunity for us and we are confident that it will be successful. Based on TechFaith's mobile phone technology, their operator tailored market experience and the reliability of our sales and marketing teams, we believe that aigo will become a well-known mobile phone brand in the near future."
CNTF is currently trading at $1.21, up 12 cents or 11.01%.
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