Qiao Xing Universal Telephone, Inc. (Nasdaq: XING) announced today that its subsidiary, Hui Zhou Qiao Xing Communication Industry (HZQXCI), will soon be launching a new model of fax machine that has been developed through its own technology.
The fax machine will be launched via the Company's network of distribution outlets. The new model, QXF705, is the latest of a series of self-developed products including SMS telephones, wireless fixed telephones, little smart phones (PAS phones) and VOIP telephones in the indoor phone business segment.
HZQXCI said that it plans to launch more self-developed fax machines in the near future, estimating that the sales revenue for these machines, for the first twelve months after their launch, will be around US$15 million. The first shipment is expected late September 2004.