BRQS - Borqs Technologies looks to expand IoT businesses in Africa by leasing mobile phones
2023-10-03 09:22:48 ET
- Borqs Technologies ( NASDAQ: BRQS ) Tuesday announced the expansion of its IoT device business and said devices like mobile phones would be leased to local users in Africa via a local leasing company.
- “The number of mobile users in Africa has been growing rapidly. However, not all African consumers can afford smart IoT devices. Therefore, leasing mobile equipment is a viable solution in the African market," said Pat Chan, CEO of Borqs Technologies.
- "The project can potentially produce about 500,000 units per year and generate about $30M in sales for our company,” he added.
- BRQS +23.31% premarket to $0.1529
- Source: Press Release
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Borqs Technologies looks to expand IoT businesses in Africa by leasing mobile phones