BEIJING, Nov. 29, 2018 /PRNewswire/ -- Huami Corporation
(NYSE: HMI), a biometric and activity data-driven company with
significant expertise in smart wearable technology, today announced
that it has entered into an agreement with Timex Group, a global
leader in watchmaking for more than 160 years. Together, the
companies will explore opportunities to develop new products and
increase global presence in the smart wearables marketplace,
pairing Timex's longstanding expertise as watchmakers with Huami's
cutting edge artificial intelligence technology, App design and
manufacturing capabilities, to develop a new generation of smart
watches that deliver on performance, style, craftsmanship and
price. The deal is set to optimize both company's global market
share including both mature markets (U.S., Europe etc.) and emerging markets
(China, Southeast Asia etc.).
In addition, the companies expect to explore and develop
value-added services including e-payment, weight management,
sports, fitness, and health care related services for users by
leveraging Huami's cloud service platform and AI Technology, and
Timex's unrivaled vertical integration capabilities in
watchmaking.
"We are excited about the opportunities this Agreement provides,
especially the ability to leverage Timex's developed channels to
gain deeper access to the U.S. and other mature markets," said
Wang Huang, Chairman and CEO of
Huami Corporation. "Together, we will work to develop business
models to promote, market and distribute smart watches to our
combined customer base, and expect to leverage each company's
distribution strengths across the global market while benefiting
from established online and offline channels. This is an
important strategic alliance, which will further allow us to
provide products and cloud based services to our global
users."
"Together with Huami, we will bring forth a new generation of
smart watches set to disrupt the category. We bring world class
product development and manufacturing capabilities in our
respective fields and poised to create new products and services
that provide users of smart wearables convenient access to valuable
data and beneficial connections to the world around them," added
Tobias Reiss-Schmidt, President and
CEO, Timex Group. "With the deep-rooted product development and
craftsmanship capabilities of Timex along with Huami's enhanced
sports, healthcare and AI technology, we have the opportunity to
bring cutting edge wearable technology to consumers around the
world."
About Huami Corporation
Huami is a biometric and activity data-driven company with
significant expertise in smart wearable technology. Since its
inception in 2013, Huami has quickly established its global market
leadership and recognition by shipping millions of units of smart
wearable devices. In 2017, Huami shipped 18.1 million units of
smart wearable devices. Huami has one of the largest biometric and
activity databases in the global smart wearables industry. Huami's
mobile apps work hand in hand with its smart wearable devices and
provide users with a comprehensive view and analysis of their
biometric and activity data. In addition to designing,
manufacturing and selling smart bands and watches under its own
Amazfit brand, Huami is the sole partner of Xiaomi, a leading
mobile internet company and global consumer electronics brand, to
design and manufacture Xiaomi-branded smart bands, watches
(excluding children watches and quartz watches), scales and
associated accessories.
For more information, please visit http://ir.huami.com.
About TIMEX Group
Timex Group designs, manufactures and markets innovative
timepieces around the world. Timex Group is a privately-held
company headquartered in Middlebury,
Connecticut with multiple operating units and over 3,000
employees worldwide. As one of the largest watch makers in the
world, Timex Group companies produce watches under a number of
well-known brands, including Timex, Nautica, Guess, GC,
Salvatore Ferragamo, Versace, Versus
and Ted Baker.
Join Timex on social media: @timex
For more information, please visit http://timexgroup.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements.
Statements that are not historical facts, including statements
about the Company's beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: the
cooperation with Xiaomi, the recognition of the Company's
self-branded products; the Company's growth strategies; trends and
competition in global wearable technology market; changes in the
Company's revenues and certain cost or expense accounting policies;
governmental policies relating to the Company's industry and
general economic conditions in China and the global.
Further information regarding these and other risks is included in
the Company's filings with the SEC. All information provided in
this press release and in the attachments is as of the date of this
press release, and the Company undertakes no obligation to update
any forward-looking statement, except as required under applicable
law.
For investor and media inquiries, please contact:
In China:
Huami Corporation
Grace Yujia Zhang
Tel: +86-10-5940-3255
E-mail: ir@huami.com
The Piacente Group, Inc.
Ross Warner
Tel: +86-10-5730-6201
E-mail: huami@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: huami@tpg-ir.com
Timex
Michelle Prins
Tel: +1-203-346-5650
Email: MPrins@Timex.com
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SOURCE Huami Corporation