Borqs Technologies Received Purchase Orders of Enterprise Handheld Android Computer Forecasted at $10 million for Next 12 Mo...
June 15 2021 - 9:00AM
Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”),
a global provider of embedded software and products for the
Internet of Things (IoT) and a portfolio company of Qualcomm
Technologies, today announced that it has received purchase orders
from a U.S. Fortune 500 Company to supply multiple models of
enterprise Android based handheld computers for the U.S., EU and
Asian markets.
Borqs develops these rugged handheld computers
with key technologies which are first catered particularly for the
U.S. market, including the latest radio bands, integrated scanner,
etc. The device has passed radio certifications required for the
U.S. market. These devices increase productivity in retail,
healthcare, point of sales (POS), pickup and delivery, and field
service applications, and will eventually be distributed to the EU
and Asian markets as well. The forecasted aggregate revenues from
these purchase orders are expected to reach $10 million within the
next 12 months.
Borqs expects the mobile handheld market to grow
steadily as the retail market recovers after the Covid-19.
According to Express News, “The global Handheld Rugged Mobile
Computer market size is projected to reach at a considerable rate
during the forecast period, between 2020 and 2026. In 2020, the
market was growing at a steady rate and with the rising adoption of
strategies by key players, the market is expected to rise over the
projected horizon.”
https://www.theexpresswire.com/pressrelease/Handheld-Rugged-Mobile-Computer-Market-Share-2021-Growth-Opportunities-with-Covid-19-Impact-Analysis-Business-Structure-with-Top-Key-Players-Size-Development-Plans-and-Challenges-Forecast-to-2026_12157967
About Borqs Technologies,
Inc.Borqs is a global leader in IoT platform and Solutions
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 unique 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 complete the purchase orders as described or reach
the volume as expected, 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 DouVice President of Corporate FinanceBorqs Technologies,
Inc.sandra.dou@borqs.netwww.borqs.com
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