Qiao Xing Mobile and TechFaith to Co-Launch High-End 3G Mobile Phones in China

BEIJING, March 24 /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 operating its
business primarily through its subsidiary, CEC Telecom Co., Ltd. ("CECT"),
today announced that it will work with China TechFaith Wireless Communication
Technology Limited (NASDAQ: CNTF) (''TechFaith''), an original developed
product (ODP) provider focused on research and development of cell phone
solutions, to co-launch high-end 3G mobile phones in China.
Under the terms of the agreement, TechFaith will provide total WCDMA and
EV-DO solutions to Qiao Xing Mobile for the development of high-end 3G
handsets that will be marketed under the Qiao Xing Mobile's VEVA brand. The
handsets are expected to launch in China in the second quarter of 2009.
Mr. Wu Zhi Yang, Chairman of Qiao Xing Mobile, commented, ''Chinese
government has just authorized three major Chinese operators to operate 3G
business and the 3G mobile phone market in China is expected to grow
significantly. To capture the growth opportunity, we will make full use of
VEVA brand advantage in the market and will cooperate with TechFaith to
develop high-end WCDMA and EV-DO handsets under our VEVA brand. We believe
that the introduction of these high-end 3G handsets will help to further raise
the profile of our VEVA brand, as well as, enhance our profitability and
growth.''
Mr. Defu Dong, Chairman and Chief Executive Officer of TechFaith, said,
''Developing high-end WCDMA and EV-DO phones is an important step in entering
the super high-end handset market in China. Even in this tough economic
period,
the Chinese consumers still have very strong purchasing power and a large
appetite for luxury goods. Qiao Xing Mobile has successfully launched several
models of high-end luxury GSM phone models under its VEVA brand and we believe
that the VEVA brand will provide us with a solid platform to penetrate the
high-end 3G market in China. We also believe that pursuing a high-end product
strategy will help to maintain the profit margins of both companies during
this period of economic slowdown.''
About Qiao Xing Mobile
Qiao Xing Mobile 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 the 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'' brands. Through its manufacturing facility in Huizhou, Guangdong
Province, China, and two research and development centers in Huizhou and
Beijing, the Company develops, produces and markets a wide range of mobile
handsets, with increasing focus on differentiated products that generate
higher profit margins. For more information, please visit http://www.qxmc.com
.
About TechFaith
TechFaith is an original developed product provider focused on research
and development of cell phone solutions. Based in China, TechFaith employs
approximately 700 professionals, of whom approximately 90% are engineers.
TechFaith engages in the development and production of middle to high-end
handsets and tailor-made handsets. TechFaith's original developed products
include: (1) multimedia phones and dual mode dual card handsets of multiple
wireless technology combination such as GSM/GSM, GSM/CDMA, GSM/WCDMA,
GSM/TD-SCDMA and UMTS/CDMA; (2) Windows-based smartphones and Pocket PC
phones;
and (3) handsets with interactive online gaming and professional game
terminals with phone functionality.
With the capability of developing MMI/UI software on 2G/2.5G (GSM/GPRS,
CDMA1X), 3G (EV-DO, WCDMA/UMTS, TD-SCDMA) and 3.5G (HSDPA) communication
technologies, TechFaith is able to provide MMI/UI software packages that
fulfill the specifications of handset brand owners and carriers in the global
market. For more information, please visit http://www.techfaithwireless.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 March 24, 2009, and Qiao Xing Mobile undertakes no duty
to update such information, except as required under applicable law.
For further information, please contact:

For Qiao Xing Mobile

Ma Tao
Qiao Xing Mobile Communication Co., Ltd.
Tel: +86-10-6250-1706
Email: matao@cectelecom.com

For TechFaith

In China:
Jay Ji
China TechFaith Wireless Communication Technology Limited
Tel: +86-10-5822-8390
Email: ir@techfaith.cn

In the U.S.:
Joseph Villalta
The Ruth Group
Tel: +1-646-536-7003
Email: jvillalta@theruthgroup.com

SOURCE Qiao Xing Mobile Communication Co., Ltd.

Ma Tao, Qiao Xing Mobile Communication Co., Ltd. at +86-10-6250-1706 or
matao@cectelecom.com; In China: Jay Ji, China TechFaith Wireless Communication
Technology Limited at +86-10-5822-8390 or ir@techfaith.cn; In the U.S.: Joseph
Villalta, The Ruth Group at +1-646-536-7003 or jvillalta@theruthgroup.com