Tak Shin Wireless United also Zhuang International smart phone joint venture company

Beijing Time May 16 Evening News, Germany Letter Wireless (NASDAQ:CNTF) announced today, will be with Beijing Zhuang International Investment Development Co., Ltd. (hereinafter referred to as "also Zhuang International") into a joint venture.　　The joint venture will replace a contract announced in September 2010 by the German letter wireless and Zhuang International, which allows the international to convert its convertible bonds into German-letter wireless common shares at a price of $5 per share of the US depository in the next 5 years. For the joint venture, Germany letter Wireless will invest 300 million yuan, but also Zhuang International will invest 200 million yuan, in Beijing Economic and technological Development zone to develop a production capacity of 10 million of the smart phone line.　　Germany's wireless will hold 60% of the shares, while the international will hold 40% of the remaining shares. In this regard, also Zhuang International deputy general manager Lee said: "We decided to replace convertible bonds with the form of joint ventures, mainly for long-term development, rather than short-term benefits." We believe that with the worldwide popularity of 3G networks, smartphone demand will increase significantly. Dong Defo, Chairman and CEO of Tak Shin, said: "Thanks to our trust, the JV company will help achieve the goals of expansion and technology development." "(Li Ming)