Why Borqs Technologies Stock Is Trading Higher Today

Borqs Technologies, Inc. BRQS, together with SkyCentrics, launched the next generation CTA-2045 ECOPORT communication products.

CTA-2045 devices are used for the smart management of water heaters, pool pumps, and other products with EcoPorts.

The strategic partnership, announced in 2021, includes joint research & development, sales, promotion, and Borqs' investment into SkyCentrics.

Also Read: Borqs Eyes Expansion Into Artificial Intelligence Of Things Solutions

The first release of the next-generation ECOPORT will start commercial shipment in Q3 in 2023, and both companies forecast strong demand for the products.

The next-generation products are more price competitive and have significantly better cellular coverage with internal and external antennas.

Early adoption of CTA-2045 EcoPort-enabled water heaters has been underway in Hawaii's low-income multi-family solar and storage communities.

"Together with SkyCentrics, we've defined a roadmap for other products which we plan to launch in the latter part of this year as well," said Pat Chan, CEO of Borqs Technologies.

Price Action: BRQS shares are trading higher by 29.5% to $0.2034 on the last check Thursday.