Borqs Technologies Stock

Borqs Technologies, Inc. operates as a global leader in software, development services and products providing customizable, differentiated and scalable Android-based smart connected devices and cloud service solutions. The company is a leading provider of commercial grade Android platform software for mobile chipset manufacturers, mobile device OEMs and mobile operators, as well as complete product solutions of mobile connected devices for enterprise and consumer applications.

The company's Connected Solutions business unit (the Connected Solutions BU) works closely with chipset partners to develop new connected devices. Borqs developed the reference Android software platform and hardware platform for Intel and Qualcomm phones and tablets. The company provides Connected Solutions customers with customized, integrated, commercial grade Android platform software and service solutions to address vertical market segment needs through the targeted BorqsWare software platform solutions. The BorqsWare software platform consists of BorqsWare Client Software and BorqsWare Server Software. The BorqsWare Client Software platform has been used in Android phones, tablets, watches and various Internet-of-things (IoT) devices. The BorqsWare Server Software platform consists of back-end server software that allows customers to develop their own mobile end-to-end services for their devices.

In 2022, the company's customers included Metro (Suzhou) Technologies Co Ltd; GreatCall, Inc.; and ECOM Instruments.

Business Units

The company had only one BU, Connected Solutions as of December 31, 2022.

The Connected Solutions BU develops wireless smart connected devices and cloud solutions. Borqs provides Connected Solutions' customers with customized, integrated, commercial grade Android platform software and service solutions to address vertical market segment needs through the targeted BorqsWare software platform solutions. The BorqsWare software platform consists of BorqsWare Client Software and BorqsWare Server Software. The BorqsWare Client Software platform consists of three major components: the latest commercial grade Android software that works with particular mobile chipsets, functionality enhancements of the open source Android software and mobile operator required services. Based on the BorqsWare Client Software platform, customers may require Borqs to provide further customization based on their specific market needs. The BorqsWare Client Software platform has been used in Android phones, tablets, watches and various Internet-of-things (IoT) devices. The BorqsWare Server Software platform consists of back-end server software that allows customers to develop their own mobile end-to-end services for their devices. The BorqsWare Server Software provides software necessary for upgrades, charging and various APIs that enhance the customers' services. Based on BorqsWare Server Software service platform, customers may require the company to provide further customization based on their specific needs.

Connected Solutions BU

The Connected Solutions BU helps customers design, develop and realize the commercialization of their connected devices.

Ideation & Design - Based on customer requirements on the type of connected device the customer want to have, we can help customers design the product ID and user interface. The company has the design engineering to provide 2D/3D rendering. The company can provide physical mockup with different color, material and finishes, so the customer can hold and feel the mockup before finalizing the product ID.

Software IP Development - IoT devices are often highly customized and require special software to display the data (e.g. circular watch display and user interface), to reduce the power consumption (e.g., a small battery in a wearable device), to perform specific functions (e.g., push-to-talk) and to connect to the mobile network. The company has developed a large number of software libraries that can be reused for various connected devices.

Product Realization - Some customers have limited hardware design capabilities. The company has a strong hardware research and development team to help customers to design the hardware, including the PCBA design and mechanical design. The company can also provide turn-key services to help customer to handle the manufacturing logistics (including supply chain and EMS management) in order to manufacture the product. The company has the experiences and resources to manage the factory supply chain, quality control and other manufacturing logistics.

The company's Connected Solutions business unit works closely with chipset partners to develop new connected devices. Borqs developed the reference Android software platform and hardware platform for Intel and Qualcomm phones and tablets. The company provides Connected Solutions customers with customized, integrated, commercial grade Android platform software and service solutions to address vertical market segment needs through the targeted BorqsWare software platform solutions. The BorqsWare software platform consists of BorqsWare Client Software and BorqsWare Server Software. The BorqsWare Client Software platform has been used in Android phones, tablets, watches and various Internet-of-things (IoT) devices. The BorqsWare Server Software platform consists of back-end server software that allows customers to develop their own mobile end-to-end services for their devices.

The Connected Solutions BU has a global customer base covering the core parts of the Android platform value chain, including mobile chipset manufacturers, mobile device OEMs and mobile operators. As of December 2018, Borqs has collaborated with six mobile chipset manufacturers and 29 mobile device OEMs to commercially launch Android based connected devices in 11 countries, and sales of connected devices with the BorqsWare software platform solutions are embedded in more than 17 million units worldwide.

Customers

The company's primary customers are mobile chipset manufacturers, mobile device OEMs and mobile operators. For the year ended December 31, 2022, Metro (Suzhou) Technologies Co Ltd, GreatCall, Inc., Qualcomm India Ltd and ECOM Instruments accounted for 30.1%, 19.9%, 16.5% and 14.1% of the company's net revenues, respectively.

The Connected Solutions BU designs chipsets and related software for mobile connected devices. The company outsources manufacturing of connected devices to third-party factories. The company sources components and raw materials from suppliers mainly in Asia, and consigns such components and raw materials to other factories to manufacture and assemble. The company serves as an original design manufacturer (ODM) of the products for its customers. The company sells the final products to its commercial customers. The company's commercial customers are responsible for marketing and retail distribution.

Significant Events

The Solar Power BU, a separate segment was deconsolidated on December 31, 2022.

Intellectual Property

The company had been granted 133 patents in China and 8 patents in the United States as of December 31, 2022. The company also has 83 software copyrights and 20 trademarks registered in China. In addition, the company has registered its domain name with various domain name registration services.

History

Borqs Technologies, Inc. was founded in 2007.