BEIJING, October 16, 2014 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today announced it will launch its first wearable, ruggedized, waterproof Smartwatch, branded the "A-Watch", on the 18th of this month.
TechFaith's A-Watch will leverage the Company's extensive leadership in the ruggedized segment. Based on the Android Jelly Bean operating system, the ruggedized A-Watch will be equipped with a 1.6 inch always glanceable, vibrant LCD screen. TechFaith's smart A-Watch is IP68 and MIL-S810G certified. In addition to being ruggedized and waterproof, the smart A-Watch will feature a Personalized Fitness Manager, Heart Rate Sensor, e-Compass, Smart Notification through Bluetooth or WiFi connectivity, and many additional features and functionality.
Mr. Deyou Dong, President and COO of TechFaith, said, "TechFaith is optimistic about the potential of the global wearable market. The market is set to quickly become a major growth driver of the technology and communications markets. Projections for the Smartwatch segment alone call for it to reach approximately US$10 billion by 2018 (source: Citi). Clearly, there is a lot of attention being devoted to the broader wearable market given the potential market size and incremental growth. The launch of our first wearable, ruggedized and waterproof Smartwatch will serve to expand our addressable market in the domestic China market over the near term and to other key markets worldwide over the longer-term, while expanding our successful ruggedized family of phones and notebooks. Given our differentiated position and potential for our ruggedized and waterproof smart A-Watch, we plan to take an even more aggressive promotion and marketing support strategy."
About TechFaith
TechFaith (NASDAQ: CNTF) is a leading global mobile solutions provider for the global mobile handsets market (previously called the ODP (Original Developed Product) business)). 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. For more information, please visit www.techfaithwireless.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident," "outlook" and similar statements. Among other things, the business outlook and strategic and operational plans of TechFaith and management quotations contain forward-looking statements. TechFaith may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on Forms 20-F and 6-K, etc., in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about TechFaith's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, those risks outlined in TechFaith's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. TechFaith does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
