China-based handset design house TechFaith acquires handset vendor QiGi

China-based handset design house TechFaith Wireless has acquired China-based smartphone vendor QiGi for US$12.5 million, according to industry sources.

The acquisition will allow TechFaith to launch more in-house designed handsets into the markets both at home and abroad in addition to cooperating with other handset vendors or carriers, the sources noted.

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