Despite China TechFaith reiterated its outlook for Q2 the stock price has been declining for days. TechFaith expects Q2 revenue $82M-$84M, with gross margin levels similar to Q1. TechFaith also announced it will launch a 3D massive motion PC console game, "Legend of the 7 Swordsmen", through its 17Vee Motion Game platform.
Yesterday's news didn't help either. The company announced it will launch six Android-based smartphones in the third quarter 2011 under its TecFace brand. The new models will be unveiled on a live webcast on June 23 at www.cnmo.com at 14:30 PM Beijing time.
What's happening? Short sellers are on a SEARCH and DESTROY mission?
NOT EVERYTHING IN THE US-LISTED CHINA SPACE IS A FRAUD!