China BAK Achieves Progress in OEM Market
China BAK Battery (NASDAQ: CBAK) today announced that the Company achieved progress in the domestic OEM market in March 2012.
On March 23, 2012, ZTE Corporation notified the Company by written notice that China BAK has passed its certification process to supply battery cells It is expected that the Company will begin to supply approximately one million polymer cells every month to ZTE in the third fiscal quarter.
Also in March 2012, the Company won a bid to supply battery cells to TCL Corporation, one of the largest consumer electronics enterprises in China with a global presence. The Company will supply 3 million prismatic cells from April through June to TCL. As the Company is a qualified battery supplier to Vodafone Group, TCL may also supply some of our battery cells to Vodafone.
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