QUALCOMM and TechFaith found TechSoft

QUALCOMM Incorporated and China TechFaith Wireless Communication Technology Limited (TechFaith) have announced plans to found a new company to focus on the development of application software for wireless devices. The new company, TechFaith Software China Limited (TechSoft), which will be based in Beijing and Hangzhou, China, will be funded by QUALCOMM and TechFaith.

This investment follows QUALCOMM's announcement in June 2003 that it planed investments up to US$100 million in early- to mid-stage Chinese companies engaged in the development and commercialization of CDMA-based products, applications and services.

Initially focusing on 3G CDMA mobile handsets, TechSoft will operate as an independent entity.

TechFaith is a handset application software and solution providers based in China. The company develops technologies used in user interface software on GSM/GPRS, CDMA2000/EV-DO, WCDMA (UMTS)/HSDPA and TD-SCDMA wireless communications technologies. TechFaith also is capable of developing smartphones and smartphone software based on open operating systems including, Linux and Windows Mobile.