Borqs Technologies Plans for Significantly Increased Sales of its Software Embedded Safety Mobile Devices to a Major German...
April 29 2020 - 9:00AM
Borqs Technologies, Inc. (Nasdaq: BRQS), (the “Company”, or
“Borqs”), a global leader in embedded software and products for the
Internet of Things (IoT) industry, announced that it is supplying a
leading German industrial manufacturer with its patented software
embedded in its intrinsically safe mobile devices which are used in
hazardous areas, a large and growing market segment. Borqs
has supplied key technologies which enable the German client to
deliver rugged enterprise-class mobile products that can be used in
with high levels of technology and reliability as required in
demanding projects such as in the field of explosion-shielded
products. As a technology partner to customers from the most
diverse sectors, which include the chemical, petrochemical,
pharmaceutical and mining industries to name a few, Borqs’
technologies are used in the German client’s award-winning Android
smartphones, and one of them is the world’s first intrinsically
safe smartphone for Zone 1/21 and Division 1 areas that meets
Google’s sophisticated Android Enterprise Recommended (AER)
validation. The devices together with the accessories provide a
wide range of safe and reliable mobile instruments for measuring
and calibrating inside and outside hazardous parameters, ranging
from the multimeter to devices for measuring temperature, pressure
and rpm, plus pressure, current loop and process calibrators, etc.
The products have been certified for release to the worldwide
market, including to the mobile operators in Europe, Asia and North
America. Borqs started supplying the German manufacturer with
software embedded products in 2019, and expects the volume of
production and shipments to increase substantially in 2020 and
beyond, based on additional demand and planned roll-out to the
large market segment globally.
According to the Mordor Intelligence Report,
“The intrinsically safe equipment market was valued at USD
2.52 billion in 2019 and is expected to reach USD 3.83
billion by 2025, at a CAGR of 7.5% over the forecast period
2020 - 2025. The increasing usage in all the hazardous
zones, with a significant amount of flexibility and
cost-effectiveness, is anticipated to drive the market in the
future.”
Borqs together with the German client developed
mobile phones that are intrinsically safe and explosion-protected.
Intrinsic safety (IS) is a protection technique for the safe
operation of electrical equipment in hazardous areas by
limiting the energy, electrical and thermal releases that could
trigger ignition. The products have passed various stringent safety
standards, such as the ATEX, IECEx and SGS. To ease the enterprise
device policy management, the device has unique custom policy
management and has been tested with multiple enterprise management
vendors. Key enterprise-ready features like Push-To-Talk and “Zero
Touch” provisioning, makes it suitable for enterprises to deploy
their bring-your-own-device “BYOD” strategy.
Mordor Intelligence Report – Intrinsically Safe
Equipment Market – Growth, Trends, and Forecast (2020 – 2025).
https://www.mordorintelligence.com/industry-reports/intrinsically-safe-equipment-market-industry
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.
Visit us 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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