China TechFaith Wireless Communication Technology, a developer of handsets, said it has inked a memorandum of understanding with Microsoft’s China unit, Microsoft China, to dually promote certain forms of technology, the Associated Press reports via BusinessWeek.
The two companies will work together in developing devices that will run on Microsoft’s Windows Mobile and Windows Media applications, in hopes of decreasing the time and costs associated with product development, according to the AP.
The partnership will also include joint sales and marketing initiatives, the AP reports.
Shares in China TechFaith were up $1.17, or 8.3 percent, to $15.25 in premarket trading, according to the AP.
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