Qiao Xing Mobile to Recruit 200 Engineers in China for 3G Mobile Phone Development in 2009
April 14 2009 - 4:30AM
PR Newswire (US)
BEIJING, April 14 /PRNewswire-Asia-FirstCall/ -- Qiao Xing Mobile
Communication Co., Ltd. ("Qiao Xing Mobile" or "the Company")
(NYSE:QXM), one of China's leading domestic manufacturers of mobile
handsets through its subsidiary CEC Telecom Co., Ltd. ("CECT"),
today announced that it plans to accelerate its 3G mobile phone
R&D by adding 200 engineers to its existing R&D team in
Beijing in 2009. The new personnel will spearhead the Company's
research, design, development and commercialization of 3G network-
compatible handsets, with a focus on TD-SCDMA and WCDMA products.
Mr. Wu Zhiyang, chairman of Qiao Xing Mobile, commented, "In 2009,
CECT is scheduled to launch several exciting new 3G models.
Currently, the VEVA T3 is in operational test with China Mobile,
the largest operator in China. And our VEVA F1 has already passed a
qualification test and been selected into the first WCDMA model
list of China Unicom, another Chinese operator." Mr. Wu continued,
"The advent of the 3G era brings a big wave of development
opportunities for Chinese mobile handset makers. Analysts forecast
the rapid rollout of 3G networks in China means the demand for 3G
phones with advanced user interface and web-friendly
functionalities will rise at a double-digit-figure for the next few
years. Although the financial crisis had an adverse impact on the
high-tech and telecom industries, we believe it presents
opportunities for us to recruit top R&D talents from the
outside. With four Company-owned and operated specialty retail
stores in Beijing and many more to come, and our 3G phone bundling
agreements with Chinese operators, we are well-positioned to lead
our industry with the most innovative mobile handset products and
seize this historic opportunity brought by 3G." About Qiao Xing
Mobile Communication Co., Ltd.: Qiao Xing Mobile Communication Co.,
Ltd. is one of the leading domestic manufacturers of mobile
handsets in China in terms of unit sales volume. The Company
manufactures and sells mobile handsets based primarily on Global
System for Mobile Communications, or GSM, global cellular
technologies. It operates its business primarily through CEC
Telecom Co., Ltd., or CECT, its 96.6%-owned subsidiary in China.
Currently, all of its products are sold under the "CECT" and "VEVA"
brand names. Through its manufacturing facility in Huizhou,
Guangdong Province, China, and two research and development centers
in Huizhou and in Beijing, the Company develops, produces and
markets a wide range of mobile handsets, with increasing focus on
differentiated products that generally generate higher profit
margins. For more information, please visit http://www.qxmc.com/ .
Safe Harbor Statement This announcement contains forward-looking
statements, as defined in the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995. In some cases,
these forward-looking statements can be identified by words or
phrases such as "aim," "anticipate," "believe," "continue,"
"estimate," "expect," "intend," "is /are likely to," "may," "plan,"
"potential," "will" or other similar expressions. Statements that
are not historical facts, including statements about Qiao Xing
Mobile's beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward- looking
statement. Information regarding these factors is included in our
filings with the Securities and Exchange Commission. Qiao Xing
Mobile does not undertake any obligation to update any
forward-looking statement, except as required under applicable law.
All information provided in this press release is as of April 14,
2009, and Qiao Xing Mobile undertakes no duty to update such
information, except as required under applicable law. For more
information, please contact: Shi Heng Qiao Xing Mobile
Communication Co., Ltd. Tel: +86-10-8219-3728 ext 8070 Email:
Valentine Ding Grayling Tel: +1-646-284-9412 Mob: +1-646-400-2551
Email: DATASOURCE: Qiao Xing Mobile Communication Co., Ltd.
CONTACT: Shi Heng of Qiao Xing Mobile Communication Co., Ltd.,
+86-10-8219-3728 ext 8070, ; or Valentine Ding of Grayling,
+1-646-284-9412, Mob: +1-646-400-2551, Web site:
http://www.qxmc.com/
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