Telstra has revealed the addition of almost one million new mobile services in the six months to December 2011, but Sensis revenues plummeted 24 percent in 12 months.
Qualcomm and China TechFaith Wireless Communication Technology Limited are to form a joint venture company to focus on the development of application software for wireless devices.
The new company, TechFaith Software China Limited (TechSoft), will be based in Beijing and Hangzhou and will be funded by Qualcomm and TechFaith with cash and in-kind contributions valued at up to $US35 million. The actual equity shares were not specified.
The move follows Qualcomm's announcement in June 2003 that it plans to invest up to $US100 million in early- to mid-stage Chinese companies engaged in the development and commercialisation of CDMA-based products, applications and services. As a result of this, TechFaith became Qualcomm's first independent handset design house partner in China, following an investment announced in April 2004.
TechSoft will focus initially on 3G CDMA mobile handsets and will operate as an independent entity. Nasdaq-listed TechFaith is one of the largest handset application software and solution providers based in China, with technology capabilities in developing user interface software on GSM/GPRS, CDMA2000/EV-DO, WCDMA (UMTS)/HSDPA and TD-SCDMA wireless communications technologies.
TechFaith claims to be able to provide user interface software packages that fulfil the specifications of major global operators, including those using the BREW solution for offering downloadable content. TechFaith is also capable of providing total solutions for handsets' upper-layer software and has the capability to develop smart phones and smart phone software based on various operating systems including, Linux and Windows Mobile.
TechFaith is able to implement high-end smart phones integrating bluetooth, Wi-Fi and high-mega-pixel cameras, based on different communication technologies according to the specific requirements of customers.
David Bass
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