Funtalk China Holdings Limited (FTLK), formerly Pypo China Holdings Limited, is a holding company. The Company is a retailer and wholesale distributor of mobile communications devices, accessories and content in China. Funtalk operates more than 662 retail outlets in over 100 cities as of September 30, 2010. Its retail outlets offer more than 2,000 models from international and domestic brands, and through strategic relationships with all three of China's mobile carriers, Funtalk also operates carrier-branded retail outlets. In addition, Funtalk's nationwide wholesale network services approximately 11,200 retail outlets in over 500 cities throughout China. In November 2009, the Company completed the acquisition of Shanghai Lezhiyu Telecommunications Equipment Co., Ltd. In April 2010, the Company completed the acquisition of Beijing Yipai Innovation Technology Development Co., Ltd. In April 2010, it completed the acquisition of 49% of the equity interests of Kunming Golden Broadway.