Israel-Based PrimeSense and China-Based TechFaith Unit Sign Agreement to Jointly Promote 3D Motion Sensing Technology, Delivery Platforms and Games
BEIJING, Jan 29, 2013 /PRNewswire/ — China TechFaith Wireless Technology Limited (NASDAQ: CNTF) today announced its game business unit 17FOX (previously “17VEE”) and PrimeSense Ltd., a leading Israel-based, 3D motion sensing technology leader, have signed a cooperation agreement to jointly promote 3D motion sensing technology, delivery platforms and games in China.
Under the terms of the agreement, 17FOX will cooperate with PrimeSense on the development, marketing and merchandising of 3D motion sensing games and applications in China based on PrimeSense’s 3D motion sensing technologies. The games and applications will allow gamers to play and control games using videocamera captured body movements.
At same time, TechFaith announced that it is going to use a new company brand and logo, “17FOX,” for its game business and branded mobile phone business.
Mr. Defu Dong, Chairman and Chief Executive Officer of TechFaith, said, “TechFaith’s gaming unit has established itself as a leading gaming business by leveraging motion technology online and on handsets. In evaluating the strategic direction with the greatest potential, moving into the 3D motion sensing market offers us a compelling opportunity to further build on our strong carrier relationships, and our development, content, and technology expertise. This agreement will give TechFaith’s 17FOX gaming unit access to critical, proven 3D motion sensing technology, which will give gamers new, immersive feelings when playing games as they will no longer need to hold hardware in their hands to control games. Our activities related to PrimeSense will fall under our new brand and logo, ’17FOX’ for our game and mobile phone businesses. We developed this to be more recognizable with partners and consumers and to build equity through an easier to remember brand.”
PrimeSense(TM) is the leader in Natural Interaction® and 3D sensing, enabling devices to “see” environments and allowing Natural Interaction between people and devices in a simple and intuitive way. PrimeSense offers affordable solutions for consumer and commercial markets including: home computing, interactive entertainment, consumer electronics, robotics, industrial, digital signage, healthcare and more. PrimeSense products include the Carmine (PS 1080) and Capri System on Chip, PrimeSense 3D sensors, NITE(TM) middleware, and cross-platform enabling software to make application development easy and intuitive. PrimeSense is a privately held company headquartered in Tel Aviv, Israel, with offices in North America, Japan, Singapore, Korea, China and Taiwan. For more information, please visit www.primesense.com.
TechFaith (NASDAQ: CNTF) has three primary businesses. The Company 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. Under the Company’s 17FOX brand (previously “17VEE”), 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.17fox.cn
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.
SOURCE China TechFaith Wireless Technology Limited