Borqs Technologies Expands Business Development to Manufacture Smart IoT Devices for the African Market

Borqs Technologies, a global provider of 5G wireless and Internet of Things (IoT) solutions, has announced its active engagement in business development with partners to manufacture smart IoT devices for the African market. The company aims to lease these devices, primarily mobile phones, to local users in Africa through a local leasing company. With a focus on affordability and security, these devices will be equipped with advanced software to prevent fraud and theft.

The African market has experienced rapid growth in the number of mobile users, but not all consumers can afford smart IoT devices. Recognizing this, Borqs Technologies plans to address this gap by offering a leasing program that provides access to mobile equipment. Leveraging its expertise in developing Android software and manufacturing hardware, the company will develop special security software tailored for the equipment leasing business in Africa.

To structure an attractive leasing program, Borqs Technologies will partner with a renowned financing company. This collaboration aims to generate about $30 million in sales for the company by producing approximately 500,000 units per year. Additionally, manufacturing devices locally in Africa will help reduce import tariffs, making the devices more accessible to consumers.

The African market has emerged as the world’s fastest-growing mobile phone market, with mobile phone use increasing at an annual rate of 65%, twice the global average. This growth has confounded analysts and service operators alike. The rise in mobile phone sales is expected to be fueled by the expansion of local and regional economies, as well as the rollout of networks by service providers across the region.

Mobile technology in Africa represents a significant opportunity for growth, as it often serves as the first modern infrastructure for many communities. With over 50% of Africans already owning mobile phones, the penetration of mobile technology is expanding rapidly. This makes mobile technology the largest platform in Africa, accessible to a wide range of income groups.

Borqs Technologies’ expansion into the African market aligns with the continent’s increasing demand for mobile devices and IoT solutions. By providing affordable leasing options and advanced security features, the company aims to bridge the digital divide and empower more Africans with access to smart IoT devices.

For more information about Borqs Technologies and its IoT solutions, visit their website at www.borqs.com.