Borqs Technologies receives increased orders in the COVID-19 pandemic for its mobile personal safety and tracking device for...
July 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, announced that it has received
significantly increased orders from the top level electronics
retail chain in the US for its personal safety tracker. Based
on the confirmed orders received so far and forecasts from the
customer, the Company expects to deliver around 250,000
units in the fiscal year ending December 31, 2020, representing
more than three-times the volume delivered in 2019 which was the
first year this product came to market.
Borqs designs and manufactures this hi-tech
mobile personal safety and tracking devices for constant monitoring
and emergency services particularly for the elderly. The product is
sold by a large US electronics retailer and 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 24/7 alert service have access
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 Covid-19 pandemic.
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
The information above includes “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. All statements, other than statements of
historical facts, included herein are forward-looking statements.
These forward-looking statements may be identified by their use of
terms and phrases such as “may,” “expect,” “estimate,” “project,”
“plan,” “believe,” “intend,” “achievable,” “anticipate,” “will,”
“continue,” “potential,” “should,” “could,” and similar terms and
phrases. Although the Company believes that the expectations
reflected in these forward-looking statements are reasonable, they
do involve certain assumptions, risks and uncertainties. These
forward-looking statements represent the Company’s current
expectations or beliefs concerning future events, and it is
possible that the results described in this release will not be
achieved. These forward-looking statements are subject to certain
risks, uncertainties and assumptions identified in this release or
as disclosed from time to time in the Company’s filings with the
Securities and Exchange Commission (the “SEC”). 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 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. As a result of these factors, actual results may
differ materially from those indicated or implied by
forward-looking statements.
Any forward-looking statement speaks only as of
the date on which it is made, and, except as required by law, the
Company does not undertake any obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise. New factors emerge from time to time,
and it is not possible for the Company to predict all such
factors.
Investor Contact:
Sandra DouDirector of FinanceBorqs Technologies,
Inc.sandra.dou@borqs.net www.borqs.com
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