Qiao Xing Universal Telephone
Qiao Xing Universal Telephone, Inc. is one of China's largest manufacturers and distributors of telecommunications products in China.
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Qiao Xing Universal Telephone to sell loss-making subsidiary
Qiao Xing Universal Telephone has found a buyer for its loss-making subsidiary, Qiao Xing Communication Holdings Limited.
Qiao Xing Communication Holdings Limited, which is primarily specialized in the indoor phone and low-end mobile phone business recorded a loss of Rmb 291.0 million (USD42.7 million) for the year 2008. In order to carry out the Company's diversification strategy, the Board has authorized the management to seek potential buyers to dispose of this business sector.
Dragon Fu Investment Limited (DFIL) is an independent third-party holding company which is planning to enter into China's consumer electronics industry. According to the executive director of DFIL, the widely-recognized 'COSUN' brand name and the extensive distribution network are the most attractive factors for DHIL's new entry strategy.
