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TechFaith Reports First Quarter 2012 Financial Results

BEIJING May 22, 2012 March 31, 2012

US$42.7 million US$81.7 million US$78.7 million US$41 million to US$45 million China US$10.8 million US$19.1 million US$25.3 million US$0.4 million US$0.01 US$2.7 million US$0.05 US$13.8 million US$0.26

US$100 million

Deyou Dong

Defu Dong

Second Quarter of 2012 Outlook

US$32.0 million to US$36.0 million

Investor Conference Call / Webcast Details

Tuesday, May 22, 2012 8:00 a.m. 8:00 p.m. Tuesday, May 22, 2012 Beijing www.techfaithwireless.com

10 p.m. May 29, 2012 10 a.m. May 30, 2012 Beijing http://www.techfaithwireless.com

About TechFaith

www.techfaithwireless.com www.17vee.com www.798game.com

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident," "outlook" and similar statements. Among other things, the business outlook and strategic and operational plans of TechFaith and management quotations contain forward-looking statements. TechFaith may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on Forms 20-F and 6-K, etc., in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about TechFaith’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, those risks outlined in TechFaith’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. TechFaith does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

CONTACTS:


China Techfaith Wireless Communication Technology Limited

Tel: 86-10-5822-8390

[email protected]



[email protected]

 

CHINA TECHFAITH WIRELESS COMMUNICATION TECHNOLOGY LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In Thousands of U.S. Dollars, except share and per share/ADS data and unless otherwise stated)

Three Months Ended

Three Months Ended

March 31

December 31

2012

2011

2011

Revenues:

ODP

$18,945

$53,808

$50,711

Brand name phone sales

15,535

14,914

19,274

Game

8,196

9,958

11,702

Total net revenues

$42,676

$78,680

$81,687

Cost of revenues:

ODP

$17,511

$40,365

$45,062

Brand name phone sales

9,847

8,899

11,916

Game

4,486

4,121

5,630

Total cost of revenues

$31,844

$53,385

$62,608

Gross Profit

$10,832

$25,295

$19,079

Operating expenses:

General and administrative

$1,436

$4,439

$4,453

Research and development

2,962

3,279

3,820

Selling and marketing

5,356

2,352

7,652

Exchange (gain) loss

20

4

(69)

Total operating expenses

$9,774

$10,074

$15,856

Government subsidy income

89

36

Other operating income

99

538

683

Income from operations

$1,246

$15,759

$3,942

Interest income

446

277

388

Investment income

883

Other income (expenses)

1

(83)

Change in fair value of put option

(150)

Income before income taxes

$1,692

$16,920

$4,097

Income tax expenses

(1,692)

(2,167)

(636)

Net income

$-

$14,753

$3,461

Less: net income attributable to the noncontrolling interest

(413)

(926)

(776)

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