Huami Launches Amazfit GTS, Available in Europe

In response to the announcement, the stock in Huami rose 1% intraday Wednesday.
Belinda ZhouOct 24,2019,06:55

China’s smart wearable tech devices maker Huami Corp. (NYSE: HMI) announced Wednesday the launch of smartwatch at IFA industrial exhibitions in Germany.

The Hefei-based company said the gadget, the Amazfit GTS, comes in 6 different colors and with a 50 meter-depth water resistance according to its official statement. The company called it “versatile” in regards of its functions like connection with the mobile smart notifications, find-my-phone function, music control via Bluetooth and weather forecast.

“It can be used for any occasion and it will stand out for its beautiful design,” the company said. The company also emphasized its silicon strap, a 9.4 mm thin body for maximum comfort and the battery can last up to 14 days.

The screen of the smartwatch saw an application of advanced technology of the 341 PPI AMOLED display with self-claimed “the highest resolution available in the market.” The product is featured with customizable widgets in the front screen.

The smartwatch is also designed for the health and fitness to track the heart rate data patterns, sleep analysis, calorie consumption and so on. “All these features, if used as an integral way to manage the user's health, can surely help users have a healthier lifestyle and improve their overall well-being,” the company said in the statement.

The company announced in September that it has unveiled its new HD curved screen Amazfit X smartwatch at IFA in Berlin. 

Huami reclaimed the collaboration with the U.S. watchmaker, Timex Group USA Inc. and the U.K. automotive technology company McLaren Automotive in Wednesday’s release.

In June, the company joined as investors in a $65.4 million Series D fundraising for San Francisco-based SiFive, together with Chengwei Capital, Spark Capital, Osage University Partners, and Qualcomm Venutures LLC.

Huami’s revenue in the three months through June reached $151.3 million, up 37 percent year-over-year. Net income was $12.9 million, or 5 cents per share, nearly level with the same period last year, according to its financial result report in August.

Looking forward, Huami said it plans to continue investing in its growth strategies such as nationwide expansion, diversification and new product releases in the August earning report. 

The company said in 2018, the proportion of overseas shipments reached 44.2% and the newly launched Amazfit GTS is currently available in Germany, the U.K., Russia, Italy, Spain, and will be available in France in November.

Huami has been the sole partner of Xiaomi to design and manufacture Xiaomi-branded smart bands, watches, scales and associated accessories “Xiaomi Wearable Products” and then developed its own brand, Amazfit as it said in its official website. Huami has been backed by U.S. venture capital firms Sequoia Capital, Morningside Venture Capital, and Banyan Capital.

Shares in Huami were trading at $9.02 per American depositary share, up 0.22% intraday Wednesday.