SANTA CLARA, Calif., July 20, 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 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.