Borqs Technologies Sees Significant Increase in Demand for Hi-tech Mobile Personal Safety & Tracking Device for Senior Citize...
April 20 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, today announced that the
demand for mobile personal safety and tracking devices is expected
to more than double for the year 2020 due to heightened awareness
for monitoring of safety for senior citizens and others brought on
by the COVID-19 environment.
Borqs designs and manufactures hi-tech mobile
personal safety and tracking devices for a major North American
multinational consumer electronics retailer and other customers for
constant monitoring and emergency services. The product is also
available through major pharmacy chains and online. The wearable
device features an easily accessible panic button, location
tracking, fall detection and other vital health information. Users
wearing the device and with subscription to the service have access
24/7 to a highly trained agent for help at the push of just one
button. The mobile device is waterproof and can detect a sudden
drop in height as in a fall and will send off an alert, making it
particularly appealing to senior citizens and to a wider age-range
of consumers particularly in the current environment which the
World Health Organization has labelled as a global pandemic. The
device was first launched in 2019 and over 100,000 units were
delivered within that year. As indicated by Borqs’ customers,
demand for the year 2020 is expected to be 2 to 3 times the levels
of 2019.
The above information reflects preliminary
estimates based on currently available information. The actual
number of units to be delivered in 2020 may vary substantially from
the preliminary estimates.
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.
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 herein, the possibility that the Company may not
be able to deliver its wearable device to satisfy the increased
demand forecast herein, 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 www.borqs.com
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