BEIJING, Aug. 12 /Xinhua-PRNewswire-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, through
its subsidiary CEC Telecom Co., Ltd. ("CECT"), today announced that it
plans to set up specialty retail stores in up-market shopping malls in
China to serve as an innovative channel for the distribution of its luxury
VEVA brand handsets. These specialty stores will offer one-stop solution
and VIP services for its VEVA customers. In the VEVA retail stores,
customers will be able to fully explore the fashionable and innovative
design and features of the VEVA mobile handset rather than having to select
one phone from the many hundreds of mobile phones in traditional electronic
stores. In addition, the Company also plans to provide customized
value-added services to its VEVA's users in the future. By pressing a
button on the VEVA phone, an user will be able to connect directly to
VEVA's 24-hour hotline that provides services including information on
transportation, entertainment, restaurants, hotels, medical, gifts
throughout major cities in China.
Mr. Wu Zhi Yang, Chairman of the Company, commented, "Establishing
strategic alliances with domestic up-market shopping malls will be an
innovation by Qiao Xing Mobile among the domestic players. We believe it
will be a great distribution channel for our luxury brand handsets since
the shopping experience in the VEVA specialty stores will be more enjoyable
than that in traditional electronic stores, where customers mostly only
have access to mock-up units rather than the real handset and thus, cannot
fully experience the uniqueness of a mobile phone in such electronic
stores. In addition, with the customized value-added services, the VEVA
brand will represent not only a mobile phone, but also a life style. Our
target is to establish around five hundred of such specialty stores in the
whole of China, which we believe will work to enhance the image of the VEVA
brand and help develop VEVA into one of best domestic luxury brands in the
Chinese mobile handset market."
About Qiao Xing Mobile Communication Co., Ltd.:
Qiao Xing Mobile Communication Co., Ltd. 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
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" brand name. Through its manufacturing
facility in Huizhou, Guangdong Province, China, and two research and
development centers in Huizhou and in Beijing, the Company develops,
produces and markets a wide range of mobile handsets, with increasing focus
on differentiated products that generally generate higher profit margins.
For more information, please visit http://www.qxmc.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 August 12, 2008, and Qiao Xing
Mobile undertakes no duty to update such information, except as required
under applicable law.
For further information:
Ma Tao
Qiao Xing Mobile Communication Co., Ltd.
Tel: +86-10-6250-1706
Email: matao@cectelecom.com
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SOURCE Qiao Xing Mobile Communication Co., Ltd.
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CONTACT:
Ma Tao of Qiao Xing Mobile Communication Co.,
Ltd., +86-10-8219-3706, or matao@qxmc.com
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