Borqs Technologies Received $15 million, Larger than Forecasted Purchase Orders of Enterprise Handheld Android Computer Products from a U.S. Fortune 500 Company for Worldwide Markets
November 30 2021 - 9:00AM
Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”),
a global provider of 5G semiconductor chip design, Internet of
Things (IoT) solutions, and innovative clean energy, today
announced that the Company’s wholly owned subsidiary, Borqs Hong
Kong Limited, has received $15 million of purchase orders, at 50%
larger than previously forecasted in June, from a reputable U.S.
Fortune 500 Company to supply multiple models of enterprise Android
based handheld computer products for the U.S., EU and Asian
markets.
The Company has already begun volume mass
production on various models of the handheld computer products and
has shipped about 10% of the orders. Subjected to the pending
availability of components, may deliver up to 20% of the order by
yearend 2021, with the bulk to be completed by 1st half of 2022.
Borqs develops these rugged handheld computer products 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.
and European 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.
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
Based on the report, the major key players in
the handheld rugged mobile computer market include:
-
Honeywell
- Zebra
Technologies
-
Datalogic
-
Panasonic
- Handheld
Group
-
CIPHERLAB
- TouchStar
Technologies
- Juniper
Systems
-
Aceeca
-
Advantech
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
purchase orders as described herein may not be completed 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.netwww.borqs.com
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