China-based TechFaith sales driven by smartphones in 3Q08
TechFaith Wireless Communication Technology, a China-based handset and handset-solution provider, has seen rising sales contribution from smartphones since the third quarter of 2008, according to industry sources. Smartphones accounted for about 58% of TechFaith's overall revenues in the third quarter, up almost 35 percentage points from the same period of last year.
TechFaith's expanding presence in the handheld device-manufacturing industry has increased its competitiveness against rivals in Taiwan, the sources found. In addition to Windows Mobile smartphones, TechFaith's first model based on the Android platform from the Google-spawned Open Handset Alliance (OHA) will kick off mass shipments by the end of the first quarter of 2008, the sources indicated.
In addition to a strategic cooperation agreement with China-based smartphone brand QIGI, the first TechFaith-manufactured CDMA smartphone will be launched in Latin America by the end of this year, according to the sources. Meanwhile, the Chinese handheld device maker has secured 3G smartphone orders for the Europe and Southeast Asia markets, the sources added.
TechFaith declined to comment on products still being developed and on its orders, citing customer confidentiality. According to the company, sales from its smartphone business have indeed soared. Sales from the segment totaled US$30 million in the third quarter of 2008, which accounted for almost 60% of the company's overall revenues.
Thanks to increasing orders from China and Southeast Asia markets, TechFaith posted revenues of US$50.8 million in the third quarter of 2008, up 32.2% on year. Nonetheless, gross margins slid 6 percentage points to 18% at the same time, with an EPS (earnings per share) of US$0.01.
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TechFaith's expanding presence in the handheld device-manufacturing industry has increased its competitiveness against rivals in Taiwan, the sources found. In addition to Windows Mobile smartphones, TechFaith's first model based on the Android platform from the Google-spawned Open Handset Alliance (OHA) will kick off mass shipments by the end of the first quarter of 2008, the sources indicated.
In addition to a strategic cooperation agreement with China-based smartphone brand QIGI, the first TechFaith-manufactured CDMA smartphone will be launched in Latin America by the end of this year, according to the sources. Meanwhile, the Chinese handheld device maker has secured 3G smartphone orders for the Europe and Southeast Asia markets, the sources added.
TechFaith declined to comment on products still being developed and on its orders, citing customer confidentiality. According to the company, sales from its smartphone business have indeed soared. Sales from the segment totaled US$30 million in the third quarter of 2008, which accounted for almost 60% of the company's overall revenues.
Thanks to increasing orders from China and Southeast Asia markets, TechFaith posted revenues of US$50.8 million in the third quarter of 2008, up 32.2% on year. Nonetheless, gross margins slid 6 percentage points to 18% at the same time, with an EPS (earnings per share) of US$0.01.
source
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