Borqs Technologies Won a Contract to Design and Supply New Laptop to the Largest Mobile Operator in India
February 22 2022 - 09:30AM
Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”),
a global provider of 5G wireless solutions, Internet of Things
(IoT) solutions, and innovative clean energy, with operations in
the U.S., India and China, today announced that it has won a design
from the largest mobile operator, one of the Fortune 500 companies,
in India to develop a Linux laptop adopting the Qualcomm chipset
with cellular connectivity.
Most of today’s laptops run Windows OS with CPU
supporting Wifi connectivity only. The new model that Borqs will
develop for the India market supports Linux OS with both mobile
cellular and Wifi connectivity to meet the demand from the end
users.
According to the recent data from IDC, the India
PC market (inclusive of desktops, laptops, and workstations)
continued its growth momentum during the 3rd quarter of 2021
despite ongoing supply and logistical challenges. The PC shipments
witnessed a 30% year-over-year (YoY) growth in 3Q21, marking the
fifth consecutive quarter of growth. A total of 4.5 million PCs
were shipped during the quarter, making it India’s biggest-ever
single quarter. Laptop PCs continue to dominate the overall
category with 81.5% market share. Enterprise and consumer demand
helped the laptop category to reach 3.6 million units for the first
time.
Borqs has been developing and shipping mobile
products for the India market for many years. Borqs currently
employs approximately 300 staff worldwide, with approximately 73%
in India, 7% in the US, and 20% in China and other markets. Borqs’
India team is based in Bangalore, India’s Silicon Valley.
The Company believes that the India market is
strategic and critical to the Company’s business. Historically, the
India market and the U.S. market have been contributing the
majority of revenue to the Company. India is one of the fastest
growing economies in the world, and offers great potential for
business opportunities. As the benefits of India’s economic growth,
an increasing number of people are moving up to the middle class,
with rising disposable income. India's middle class is expected
grow to 580 million people by 2025. Under the growing consumer
spending trend in India, Borqs’ relationship with the largest India
mobile operator will continue to help the Company to expand its IoT
products in India.
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.
Borqs recently acquired controlling interests in
a solar energy storage systems company in the U.S.
Forward-Looking Statements and
Additional InformationThis 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
revenues from business activities as described herein may not be
reached or at all, and the negative impact of the COVID-19 pandemic
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 DouVice President of Corporate
FinanceBorqs Technologies, Inc.sandra.dou@borqs.net
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