Huami Corporation Announces Multi-Year Strategic Cooperation Agreement Extension with Xiaomi Corporation
BEIJING, Oct. 20, 2020 /PRNewswire/ -- Huami Corporation ("Huami" or the "Company") (NYSE: HMI) today announced a 3-year extension of its strategic cooperation agreement with Xiaomi Corporation ("Xiaomi"). Through the terms of this extension, Huami continues to receive the most-preferred-partner status to develop Xiaomi wearable products. In addition, under the agreement, the two parties will form a most-preferred strategic partnership on the research and development of AI-chips and algorithms for wearable devices.
About Huami Corporation (NYSE: HMI)
Huami's mission is to connect health with technology. Since its inception in 2013, Huami has developed a platform of proprietary technology including AI chips, biometric sensors, and data algorithms, which drive a broadening line of smart health devices for consumers, and analytics services for industry. In 2019, Huami shipped 42.3 million units of smart wearable devices, including its own Amazfit brand, and products developed and manufactured for Xiaomi, comprising 26% of global category shipments[1]. Huami Corp is based in Hefei, China, with U.S. operations, Huami-USA, based in Cupertino, California.
[1] IDC, Correcting and Replacing Shipments of Wearable Devices, 3/10/20 |
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the cooperation with Xiaomi, the recognition of the Company's self-branded products; the Company's growth strategies; trends and competition in global wearable technology market; changes in the Company's revenues and certain cost or expense accounting policies; governmental policies relating to the Company's industry and general economic conditions in China and the global. Further information regarding these and other risks is included in the Company's filings with the United States Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
In China:
Huami Corporation
Grace Yujia Zhang
E-mail: [email protected]
The Piacente Group, Inc.
Yang Song
Tel: +86-10-6508-0677
E-mail: [email protected]
In the United States:
Brad Samson
E-mail: [email protected]
SOURCE Huami Corporation
Share this article