SANTA CLARA, Calif., June 29, 2020 (GLOBE NEWSWIRE) -- 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 the intrinsically safe mobile rugged phones which it developed for its German technology partner has passed the stringent certification of two of the largest mobile operators in North America. Borqs has started to deliver products ordered by the German technology partner and is ramping up production rapidly.
In April this year, Borqs has announced that it has formed a partnership with a leading German partner for its Intrinsically Safe Mobile Devices and has supplied key technologies which enable the German partner to deliver rugged enterprise-class mobile products that can be used in hazardous areas, with high levels of expertise and reliability in demanding projects in the field of explosion-shielded products. As a partner to customers from the most diverse sectors, which include the chemical, petrochemical, pharmaceutical and mining industries, Borqs’ technologies are used in the German partner’s market-winning Android smartphones. One of these phones is the world’s first intrinsically safe smartphone for Zone 1/21 and Div. 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. These orders will be filled in the second half of 2020 and also into 2021.
Pat Chan, Chairman and CEO of Borqs stated: “This is a testimony of Borqs’ technological capabilities in designing and manufacturing state-of-the-art mobile devices for the most advance applications and for the most demanding markets such as North America. This product for our German partner contributes substantially to our diverse revenue stream from large customers.”
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.”
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.
Forward-Looking Statements and Additional Information
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