Qualcomm Invests in Chinese Mobile Software Venture

6:50 am on March 23, 2006 | Category: Business, Mobile Devices

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San Diego-based mobile chipmaker, Qualcomm Inc. has agreed to partner with Chinese wireless technology provider, TechFaith, on a new company that will develop software applications for wireless devices.

The new company will be called TechFaith Software China (TechSoft), and will be operated as an independent joint venture between the two companies.

This investment ties in with Qualcomm’s plans to invest up to $100 million in the development and commercialization of CDMA-based products, services, and applications for the Chinese market. Qualcomm has been doing business with TechFaith since April 2004, when the companies formed a handset design partnership.

“This collaboration reinforces the successful relationship we have built with Qualcomm,” said TechFaith chairman and CEO, Dong Defu. “Our further collaboration with Qualcomm to establish TechSoft reinforces our international focus with the goal of providing continually improved mobile handset solutions.”

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    Published by TeleClick Enterprises
    Edited by Jeremy Maddock