China TechFaith Wireless Communication Technology to penetrate Indian market
China TechFaith Wireless Communication Technology Ltd. (Nasdaq: CNTF), a design product provider focused on research and development of cell phones, said this morning that it has made a contract with an Indian operator brand, a move that is expected to expand its global reach into the Indian market
The contract calls for mid- to high-end CDMA 1X long standby feature phones. The first shipment of the product is expected in the first quarter of 2008.
Shares of China TechFaith (CNTF) gained $0.24, or 3.63%, to $6.85 in pre-market trading. Wireless Shares of China TechFaith Wireless have been trading in the range of $4.01 to $11.28 for the past 52 weeks.
