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Marketwired
Marketwired
Articles 

Borqs Technologies Plans for Significantly Increased Sales of its Software Embedded Safety Mobile Devices to a Major German Industrial Manufacturing Company

April 29, 2020 | About:

SANTA CLARA, Calif., April 29, 2020 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. ( BRQS), (the “Company”, or “Borqs”), a global leader in embedded software and products for the Internet of Things (IoT) industry, announced that it is supplying a leading German industrial manufacturer with its patented software embedded in its intrinsically safe mobile devices which are used in hazardous areas, a large and growing market segment. Borqs has supplied key technologies which enable the German client to deliver rugged enterprise-class mobile products that can be used in with high levels of technology and reliability as required in demanding projects such as in the field of explosion-shielded products. As a technology partner to customers from the most diverse sectors, which include the chemical, petrochemical, pharmaceutical and mining industries to name a few, Borqs’ technologies are used in the German client’s award-winning Android smartphones, and one of them is the world’s first intrinsically safe smartphone for Zone 1/21 and Division 1 areas that meets Google’s sophisticated Android Enterprise Recommended (AER) validation. The devices together with the accessories provide a wide range of safe and reliable mobile instruments for measuring and calibrating inside and outside hazardous parameters, ranging from the multimeter to devices for measuring temperature, pressure and rpm, plus pressure, current loop and process calibrators, etc. The products have been certified for release to the worldwide market, including to the mobile operators in Europe, Asia and North America. Borqs started supplying the German manufacturer with software embedded products in 2019, and expects the volume of production and shipments to increase substantially in 2020 and beyond, based on additional demand and planned roll-out to the large market segment globally.

According to the Mordor Intelligence Report, “The intrinsically safe equipment market was valued at USD 2.52 billion in 2019 and is expected to reach USD 3.83 billion by 2025, at a CAGR of 7.5% over the forecast period 2020 - 2025. The increasing usage in all the hazardous zones, with a significant amount of flexibility and cost-effectiveness, is anticipated to drive the market in the future.”

Borqs together with the German client developed mobile phones that are intrinsically safe and explosion-protected. Intrinsic safety (IS) is a protection technique for the safe operation of electrical equipment in hazardous areas by limiting the energy, electrical and thermal releases that could trigger ignition. The products have passed various stringent safety standards, such as the ATEX, IECEx and SGS. To ease the enterprise device policy management, the device has unique custom policy management and has been tested with multiple enterprise management vendors. Key enterprise-ready features like Push-To-Talk and “Zero Touch” provisioning, makes it suitable for enterprises to deploy their bring-your-own-device “BYOD” strategy.

Mordor Intelligence Report – Intrinsically Safe Equipment Market – Growth, Trends, and Forecast (2020 – 2025).

https://www.mordorintelligence.com/industry-reports/intrinsically-safe-equipment-market-industry

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.

Visit us at: www.Borqs.com

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, 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, 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 Dou
Director of Finance
Borqs Technologies, Inc.
[email protected]

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