Borqs Technologies Is Expanding Its IoT Device Businesses In Africa Annual Potential Sales Of $30M
Portfolio Pulse from Benzinga Newsdesk
Borqs Technologies, Inc. (NASDAQ:BRQS) is expanding its Internet of Things (IoT) device business in Africa, with potential annual sales of $30M. The company is developing smart IoT devices, primarily mobile phones, for the African market in partnership with a global financing company. The devices will be leased to local users through a local leasing company. The project could produce about 500,000 units per year.
October 03, 2023 | 12:32 pm
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Borqs Technologies is expanding its IoT device business in Africa, which could potentially generate $30M in annual sales. This expansion could boost the company's revenues and increase its market presence in Africa.
The expansion of Borqs Technologies' IoT device business in Africa could potentially generate significant revenues for the company. The company's partnership with a global financing company to develop and lease these devices could also increase its market presence in Africa, which is a rapidly growing market for mobile technology. This could have a positive impact on the company's stock price in the short term.
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