Borqs’ Connectivity Business Unit Obtained the Official Commercial MVNO License

SANTA CLARA, Calif. (July 26, 2018) - Borqs Technologies, Inc. (NASDAQ: BRQS) — a global leader in embedded software, products and cloud solutions for the Internet of Things (IoT), announced today its Connectivity Business Unit YuanTel Communications has obtained the official commercial MVNO (mobile virtual network operator) license from the Ministry of Industry and Information Technology (MIIT) of the People’s Republic of China. Borqs’ MVNO network will enter into a new era after four years of trial period.

 

Since the beginning of the MVNO business, Borqs has continuously focused on innovative business models, and as well as developing the key technologies (such as the patented eSIM IoT SDK) to deploy IoT products in its MVNO network.  Borqs’ MVNO network has been ranked the second most successful MVNO operator in China among the 42 licensees, as measured by the number of subscribers, settlement volume, and quality of service.

 

“The official commercial MVNO license is a key milestone in the company's Connectivity Business Unit. First of all, I would like to thank my team for their continued adherence to this innovative development” said Pat Chan, founder and CEO of Borqs. “We firmly believe that the MVNO opportunity in China is in the cradle stage and the opportunity is enormous. Borqs is uniquely positioned to provide the needed technologies to enable our customers to deploy their IoT products in our MVNO network easily and seamlessly.”

 

Borqs has strategic partnerships with Qualcomm and Intel with early access to the latest chipsets enabling early time-to-market of IoT devices using these chipsets. Borqs’ broad customer base and target markets include OEMs such as Vizio, Sonim and Fossil, operators like AT&T and Sprint in the U.S. and Reliance Jio in India, and IoT solution providers to various vertical segments.

 

“The issue of the official license is definitely a major milestone, and reflects the government’s recognition of our exploration and innovation for the MVNO business in the past four years,” said by Jason Wang, President of Connectivity Business Unit.  “We will continue to strengthen our platform openness and innovation to provide differentiated products and services.”

For more information about Borqs, visit: www.borqs.com.

 

About Borqs: Borqs Technologies (NASDAQ: BRQS) is a global leader in software and products for 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 designs, develops and provides turnkey solutions across device form factors such as smartphones, tablets, smartwatches, trackers, automotive in-vehicle infotainment and vertical application devices (for restaurants, payments, et al.).  For more information, please visit the Borqs website (http://www.borqs.com).

 

Forward-Looking Statements: 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 may relate to future events or future results, based on currently available information and reflect our managements’ 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, without limitation, market acceptance of our products and services, competition from existing products or new products that may emerge, the implementation of our business model and strategic plans for our business and our products, estimates of our future revenue, expenses, capital requirements and our need for financing, our financial performance, and current and future government regulations, developments relating to our competitors, so  the reader is advised to refer to the Risk Factors sections of the Companies’ filings with the U.S. 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 or revise any forward-looking statements whether as a result of new information, future events or otherwise.

 

Borqs Contacts:

 

Michelle Wang, Market Communications

Email:  michelle.wang@borqs.net

 

Sandra Dou, Investor Relations

Email:  sandra.dou@borqs.net