21 March 2008
China-based handset and handset-solution provider TechFaith Wireless Communication Technology aims to ship 1.5 million units, including one million handsets and 500,000 smartphones, in 2008, compared to a total of 600,000 units shipped in 2007, company president and COO Gilbert Lee said recently in Taipei.
In addition, TechFaith has also ventured into the development of MID (mobile Internet device) products and Android-based handsets, with plans to launch its first Android-based product in the fourth quarter of this year at the earliest, Lee noted.
With established business relations with Nokia, Motorola, LG Electronics, and Toshiba already, TechFaith is also seeking opportunities to cooperate with Taiwan-based handset vendors, including BenQ, to offer handset production services, Lee stated.
In other news, TechFaith has transferred a 31% stake it held in a joint venture set up with China-based handset maker BYD in early 2007, to its partner. Lee said that the two companies will continue to cooperate on handset production for international brand vendors.
TechFaith did not make equity investments in the joint venture and instead contributed a 300-engineer team, TechFaith said in a statement released in February 2007. With the transfer of the 31% stake, the venture now becomes a wholly-owned subsidiary of BYD.
