Huami Unveils Two New Flagship Smartwatches, Shares Up 9.5%
Shares in Huami jumped more than 9.5 percent on Tuesday after the company announced two new smartwatches at its 2019 summer launch event in Beijing.
Shares in smart wearable technology firm Huami Corp. (NYSE: HMI) soared more than 9.5 percent on Tuesday, closing at $9.96 on news that it unveiled a new pair of advanced smartwatches.
The company's new smartwatches feature an electrocardiogram sensor to monitor a wearer's heartbeat, as well as a optical heart rate sensor similar to the one found in the Apple Watch Series 4.
Huami said its Amazfit Verge 2 is the first smartwatch equipped with an eSIM function, which allows it to make and receive calls without being connected to a phone. The Verge 2 supports 4G independent calling and is compatible with all major carriers in China.
The Amazfit "Avengers Edition" smartwatch.
Huami's other new smartwatch is the Amazfit Bip 2, which is equipped with the the Huangshan No. 1 chipset, the world's first AI-powered wearable chipset. It's the first wearable processor that comes integrated with a AI neural network.
The Huangshan No. 1 chip includes a cardiac biometrics engine that allows for more accurate heart rate monitoring of the wearer, as well as real-time electrocardiogram sensor screening for any abnormalities such as heart arrhythmia or atrial fibrillation.
The company says that the Huangshan No. 1 chipset provides lightning performance with minimal power consumption.
The Amazfit Bip 2 is available in three colors.
Wang Huang, founder and chief executive officer of Huami, pointed out that the advanced hardware is only the foundation of its products. He explained that real intelligent hardware must support robust cloud-based services in order to build a complete set of closed-loop services to help users maintain a healthy body.
Huami announced its first quarter earnings last week with strong revenue. The company reported revenue of $119.1 million in the first quarter, a 37 percent increase from the same period last year.
Huami also announced it invested in San Francisco-based tech startup SiFive on June 7. SiFive is a semiconductor company founded in 2015 that produces computer chips based on the RISC-V instruction set architecture.