Borqs Technologies To Ship Kids Smartwatch in North America
April 24 2020 - 09:00AM
Borqs Technologies, Inc. (Nasdaq: BRQS), (the “Company”, or
“Borqs”), a global leader in embedded software and products for the
Internet of Things (IoT) industry, today announced that it has won
a sizable contract to supply a kids smartwatch to a large North
American mobile operator.
The kids smartwatch is based on the Qualcomm
platform. It supports the latest mobile technology, Wifi, Bluetooth
connectivity, and is water resistant. It has a built-in microphone
and speaker to support voice and text messaging, and other
comprehensive features. Together with the tracking solution,
parents can perform real-time location tracking, geofencing and
history review of their child’s whereabouts on their Android phone
or iPhone companion app. The Company forecasts to ship several
hundreds of thousands units of the kids smartwatch worldwide over
the next 2 to 3 years.
According to the Wise Guy 2020 Report on
smartwatch for kids, “Global Kids smart watch Market is valued
approximately at USD 9.2 billion in 2018 and is anticipated to grow
with a healthy growth rate of more than 16.44% over the forecast
period 2019-2026. … As per International Centre for missing &
Exploited Children report 2015, about 8 million children across the
globe are reported missing each year. Kids smartwatch are enabled
with safety features such as child location and activity tracking,
GPS tracking, messaging, voice call features that help parents to
stay connected with their child. … North America is the significant
region across the world in terms of market share owing to the
increasing cases of child missing’s and kidnappings, product
launches made by the private organizations into Kids smartwatch
sector along with high disposable income of the individuals.
Whereas, Asia-Pacific is also anticipated to exhibit highest growth
rate / CAGR over the forecast period 2019-2026.”
The Company has launched smartwatch for kids in
China, Korea and Latin America. The Company believes that its
smartwatch for kids together its tracking solution will provide to
its customers a reliable platform to ensure the tracking and safety
for kids. This technology can also be applicable to programs
according to the Department of Justice’s Guideline for the
Screening of Persons Working with Children, the Elderly, and
Individuals with Disabilities in Need of Support. Borqs’ technology
is being used by customers of Borqs to actively track the elderly
and is working on advanced trials to track/trace quarantined
individuals in the current COVID-19 pandemic situation.
Wise Guy Report - Global Kids Smart Watch Market
Industry Analysis, Size, Share, Growth, Trends and Forecast
2020-2026.https://www.wrcbtv.com/story/41851246/global-kids-smart-watch-market-industry-analysis-size-share-growth-trends-and-forecast-2020-2026
About Borqs Technologies,
Inc.
Borqs Technologies is a global leader in
software and products for the IoT, providing customizable,
differentiated and scalable Android-based smart connected devices
and cloud service solutions. Borqs has achieved leadership and
customer recognition as an innovative end-to-end IoT solutions
provider leveraging its strategic chipset partner relationships as
well as its broad software and IP portfolio.
Borqs’ unique strengths include its Android and
Android Wear Licenses which enabled the Company to develop a
software IP library covering chipset software, Android
enhancements, domain specific usage and system performance
optimization, suitable for large and low volume customized
products. The Company is also currently in development of 5G
products for phones and hotspots.
Please visit the Company’s website at
www.borqs.com.
Forward-Looking Statements and
Additional Information
This press release includes “forward-looking
statements” that involve risks and uncertainties that could cause
actual results to differ materially from what is expected. Words
such as “expects”, “believes”, “anticipates”, “intends”,
“estimates”, “predicts”, “seeks”, “may”, “might”, “plan”,
“possible”, “should” and variations and similar words and
expressions are intended to identify such forward-looking
statements, but the absence of these words does not mean that a
statement is not forward-looking. Such forward-looking statements
relate to future events or future results, based on currently
available information and reflect our management’s current beliefs.
Many factors could cause actual events or results to differ
materially from the events and results discussed in the
forward-looking statements, including the possibility that the
Company will not consummate its previously announced line of credit
transaction on terms favorable to the Company or at all, the
possibility that the Company may not receive actual orders in the
amounts forecasted, the possibility that the Company may not be
able to deliver its wearable device to satisfy the increased demand
forecasted, and the negative impact of the coronavirus on the
Company’s supply chain, revenues and overall results of operations,
so the reader is advised to refer to the Risk Factors sections of
the Company’s filings with the Securities and Exchange Commission
for additional information identifying important factors that could
cause actual results to differ materially from those anticipated in
the forward-looking statements. Except as expressly required by
applicable securities law, the Company disclaims any obligation to
update any forward-looking statements, whether as a result of new
information, future events or otherwise.
Investor Contact:
Sandra DouDirector of FinanceBorqs Technologies,
Inc.sandra.dou@borqs.net
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