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China TechFaith Wireless (CNTF): Insane Chinese Stock Of The Day
Published:
China TechFaith Wireless (CNTF) is trading up 32% to $8.64 on news that the company announced that China’s Ministry of Public Security Information Center has awarded TechFaith a contract to custom develop a pocket PC phone for the police forces in two provinces in China.
Of course, no revenue was attached to the deal. It may be used by three cops in total.
It is TechFaith’s first contract from a customer that is not in the telecommunication sector. CNTF expects to benefit from strong demand in the broader, non-telecommunication market going forward as its custom developed phones are adopted to meet needs ranging from security and surveillance, to data management, GPS/location based tracking and other various data and communications needs.
Nice PR. Meaningless.
Douglas A. McIntyre
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