China Techfaith Wireless (CNTF), a maker of low-end Android phones and tablets, is down 7.7% after reporting Q3 revenue of $80.6M (+17% Y/Y) and EPS of $0.06. Results were hurt by a 6% Q/Q decline in private label device sales, as competition between Chinese Android vendors heats up. Moreover, the company is guiding for revenue of just $78M-$81M in seasonally strong Q4.
China Techfaith Wireless (CNTF), a maker of low-end Android phones and tablets, is down 7.7%...
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