Borqs Technologies, Inc. (NASDAQ:BRQS) — a global leader in embedded software, products and cloud solutions for the Internet of Things (IoT), announced today that, on July 23, 2018, Yuantel Telecommunications, its subsidiary that operates its mobile virtual network operator (MVNO) business, was awarded the official commercial MVNO license from the Ministry of Industry and Information Technology (MIIT) of the People’s Republic of China. The license is valid from July 12, 2018 until July 12, 2023. After successfully completing a four year trial period, Borqs’ MVNO Business Unit can now begin a new era in the global telecommunications market.
Since the beginning of its MVNO business, Borqs has continuously focused on innovative business models as well as developing the key technologies, such as the patented eSIM IoT SDK, to deploy IoT products to its MVNO network of customers and partners. Borqs’ MVNO business unit is the second largest in China among the licensees, as measured by the number of subscribers, settlement volume, and quality of service.
“The official commercial MVNO license is a key milestone for the Company’s MVNO Business Unit as well as the Connected Solutions Business Unit. First of all, I would like to thank my team for their perseverance to drive innovation,” 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 and business models to enable our customers to deploy their IoT products in our MVNO network easily and seamlessly.”
Read More: The Promise and Potential of AI for the Insurance Industry
Borqs’ strategic partnerships with Qualcomm and Intel have provided the Company 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 Sonim and Fossil, mobile operators like AT&T and Sprint in the U.S. and Reliance Jio in India, and IoT solution providers to various vertical segments.
“The issuance 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 Jason Wang, President of the Connectivity Business Unit. “We will continue to strengthen our platform openness and innovation to provide differentiated products and services for IoT.”
Read More: AI Breakthrough Announces Inaugural Award Winners
Copper scrap documentation Copper scrap sustainability certifications Metal waste recycler
Copper cable analysis, Scrap metal value optimization, Copper recycling legislation
Metal reclamation and recycling yard Ferrous scrap recycling regulations Iron scrap buyback
Ferrous material resource optimization, Iron waste reuse center, Scrap metal reclamation and salvage