China TechFaith Wireless gets contract from Chinese government
China TechFaith Wireless Communication Technology Ltd. (Nasdaq: CNTF), a design manufacturer focused on the research and development of cell phones, said that it was awarded a contract by China's Ministry of Public Security Information Center to custom develop a pocket PC phone for police forces in two provinces in China.
This is TechFaith's first contract from a Chinese government organization. The initial shipment is expected in December 2007.
Shares of China TechFaith (CNTF) soared 36.91%, or $2.34, to $8.68 in pre-market trading. Shares of China TechFaith have been trading in the range of $4.01 to $11.28 for the past 52 weeks.
