(Telecompaper) Chinese smartphone maker Coolpad has entered into a non-legally binding term sheet with China Baoli Technologies, in relation to the proposed formation of a joint venture in China. Coolpad and China Baoli plan to jointly develop dual screen (e-ink screen and colour screen) mobile handsets in China by way of formation of the proposed joint venture. Coolpad will own 49 percent in the JV company, while China Baoli will hold 51 percent of the resulting entity.