(Yicai Global) Sept. 15 -- Shenzhen-based E-Charging Wireless Technology Co. has entered into a strategic partnership with ConvenientPower HK Ltd., a longtime wireless charging market leader in Hong Kong, to set up a joint venture, ConvenientPower Systems (CPS). The pair will join forces to capture the wireless charging applications market.
Through the tie-up, they will expand their existing product lines and develop chipsets for wireless charging devices. Furthermore, CP will penetrate the Chinese mainland market with the assistance of E-Charging, and the latter can benefit from the deal by gaining access to foreign markets. The joint venture is dedicated to developing high quality wireless charging products and solutions for Chinese and overseas clients.
CPS will serve as a platform for collaborative development of wireless charging technology and products, providing customers worldwide with one-stop wireless charging solutions and services integrating technology research, a product platform, production, sales and engineering support.
The wireless charging market is on the verge of explosive growth. The tie-up of the two industry leaders is bound to take wireless charging technology applications to a new level.
Founded in 2006, ConvenientPower is the global leader in the field and the only wireless charger manufacturer in the world that has maintained sizable sales throughout the past decade. All of its clients are top-tier brands in Europe, America, Japan and South Korea, including Toyota Motor Corp. [TYO:7203], Nexus by Alphabet Inc [NASDAQ:GOOGL], Microsoft Corp. [NASDAQ:MSFT], Sony Corp. [TYO:6758] and Verizon Communications Inc. [NYSE:VZ]. Its products have wide-ranging applications in the smartphone, consumer electronics, automobile, furniture, construction, medical and healthcare markets.
E-Charging was incorporated in Shenzhen last year, and has established itself as a leading supplier of wireless charging chipsets and solutions in the world. Its chipsets can be found in a broad range of cellphone, tablet and wearable device products.
Furthermore, it has fostered strong partnerships with several Chinese public companies such as Shenzhen Sunway Communication Co. [SHE:300136] and Shenzhen Sunlord Electronics Co. [SHE:002138]. Its products are noted for free placement and 'dual charger' features.