BEIJING, Jan 29, 2013 /PRNewswire/ -- China TechFaith Wireless Technology Limited (NASDAQ: CNTF) today announced its game business unit 17FOX (previously "17VEE") and PrimeSense Ltd., a leading Israel-based, 3D motion sensing technology leader, have signed a cooperation agreement to jointly promote 3D motion sensing technology, delivery platforms and games in China.
Under the terms of the agreement, 17FOX will cooperate with PrimeSense on the development, marketing and merchandising of 3D motion sensing games and applications in China based on PrimeSense's 3D motion sensing technologies. The games and applications will allow gamers to play and control games using videocamera captured body movements.
At same time, TechFaith announced that it is going to use a new company brand and logo, "17FOX," for its game business and branded mobile phone business.
Mr. Defu Dong, Chairman and Chief Executive Officer of TechFaith, said, "TechFaith's gaming unit has established itself as a leading gaming business by leveraging motion technology online and on handsets. In evaluating the strategic direction with the greatest potential, moving into the 3D motion sensing market offers us a compelling opportunity to further build on our strong carrier relationships, and our development, content, and technology expertise. This agreement will give TechFaith's 17FOX gaming unit access to critical, proven 3D motion sensing technology, which will give gamers new, immersive feelings when playing games as they will no longer need to hold hardware in their hands to control games. Our activities related to PrimeSense will fall under our new brand and logo, '17FOX' for our game and mobile phone businesses. We developed this to be more recognizable with partners and consumers and to build equity through an easier to remember brand."About PrimeSense PrimeSense™ is the leader in Natural Interaction® and 3D sensing, enabling devices to "see" environments and allowing Natural Interaction between people and devices in a simple and intuitive way. PrimeSense offers affordable solutions for consumer and commercial markets including: home computing, interactive entertainment, consumer electronics, robotics, industrial, digital signage, healthcare and more. PrimeSense products include the Carmine (PS 1080) and Capri System on Chip, PrimeSense 3D sensors, NITE™ middleware, and cross-platform enabling software to make application development easy and intuitive. PrimeSense is a privately held company headquartered in Tel Aviv, Israel, with offices in North America, Japan, Singapore, Korea, China and Taiwan. For more information, please visit www.primesense.com.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts