Gaming Stocks Trading Alert: TechFaith (NASDAQ: CNTF) Moves on News of Launch Mobile Games on China Mobile and China Telecom
Category: Investment, Gaming
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New York, NY - August 22, 2012 (Investorideas.com newswire, www.gaminingindustrystocks.com) Investorideas.com staff: Investor Ideas, a global investor research portal for independent investors, specializing in sector research including gaming stocks and China stocks, issues a news and trading alert for China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF). The stock is trading at $1.18, up 0.05 (4.42%) 1:06PM on over 290,000 shares, with a high of $1.27.
The Company announced news it has gained approval to launch its 17VEE mobile games on China Mobile (0941.HK) and China Telecom (0728.HK), which have 670 million and 141 million, wireless subscribers in China, respectively.
TechFaith (CNTF) has three primary businesses. Under the TechFaith umbrella, the Company is a leading global mobile solutions provider for the global mobile handsets market (previously called the ODP (Original Developed Product) business)). Under its TecFace brand, the Company is a leading developer of specialized mobile phones for differentiated market segments, including the rapidly growing smartphone market targeting wireless mobile phone network operators and end users; the Company also serves sports enthusiasts with a tailored line under the Jungle brand and the teen market under licensed brands. Under the Company's 17VEE brand, the Company has built a leading intellectual property based motion gaming business ranging from Bluetooth-enabled motion gaming controllers and software to a planned proprietary set-top motion game box. For more information, please visit www.techfaithwireless.com, www.17vee.com and www.798game.com.
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