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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 MarketsSANTA CLARA, Calif., Nov. 30, 2021 (GLOBE NEWSWIRE) -- 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-Covi-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:
About Borqs Technologies, Inc. Borqs recently acquired controlling interests in a solar energy storage systems company in the U.S. Forward-Looking Statements and Additional Information Investor Contact: Sandra Dou |