UCLOUDLINK Announces Strategic Partnership with Tuya to Drive IoT Innovation

Rhea-AI Summary

On July 7, 2022, UCLOUDLINK GROUP INC. (NASDAQ: UCL) announced a strategic partnership with Tuya Inc. (NYSE: TUYA, HKEX: 2391) to enhance technological cooperation in the Internet of Things (IoT) sector. This collaboration aims to combine UCLOUDLINK's cloud SIM technology and Tuya's smart products, providing improved data connectivity services. CEO Chaohui Chen highlighted the partnership's potential to drive IoT innovation and accelerate the digital transformation process. UCLOUDLINK's solutions will cater to various commercial applications, offering significant growth opportunities in the growing IoT cloud services market.

Positive

• Strategic partnership with Tuya enhances technological cooperation in the IoT sector.
• Combines UCLOUDLINK's cloud SIM technology with Tuya's smart products to improve data connectivity.
• Potential for significant business growth opportunities in the expanding IoT cloud services market.

Negative

• None.

HONG KONG, July 7, 2022 /PRNewswire/ -- UCLOUDLINK GROUP INC. ("UCLOUDLINK") (NASDAQ: UCL), the world's first and leading mobile data traffic sharing marketplace, has formed a strategic partnership with Tuya Inc. ("Tuya") (NYSE: TUYA，HKEX：2391), a global leading IoT cloud development platform, to initiate comprehensive technological cooperation in the field of Internet of Things ("IoT"). UCLOUDLINK and Tuya will leverage their respective technological advantages and make joint efforts into research and development in the IoT industry of cloud era.

"We are excited to extend our partnership in the IoT industry by cooperating with Tuya. Empowered by UCLOUDLINK's expertise in data connectivity services, Tuya's smart products will benefit from UCLOUDLINK's cloud SIM technology and hyper-connectivity solution to access reliable, better, and high-quality internet data connectivity services, helping users expedite the process of digital transformation and enabling them to enjoy the benefits provided by the enhanced IoT solutions." said Chaohui Chen, Director and CEO of UCLOUDLINK.

Mr. Chen continued, "The partnership will not only produce win-win outcomes but also go a long way in driving the innovation of IoT industry in the cloud era as a whole. UCLOUDLINK specializes in developing innovative IoT solutions empowering single entry point to access all available networks while reducing overall data connectivity services costs, and our solutions are widely applied in a variety of commercial scenarios including industry Wi-Fi router, IP Camera, Power, emergency services and Autopilot, etc."

UCLOUDLINK continues to facilitate the acceleration of the cloud era of IoT through its PaaS and SaaS platform based on cloud SIM technology and hyper-connectivity solution. The possible surge in demand for IoT cloud services will create significant business growth opportunities for UCLOUDLINK. As the pioneer technology solution provider in the data connectivity sector, UCLOUDLINK will keep collaborating with more business partners worldwide to accelerate the development of IoT industry in the cloud era.

About UCLOUDLINK GROUP INC.
UCLOUDLINK is the world's first and leading mobile data traffic sharing marketplace, pioneering the sharing economy business model for the telecommunications industry. The Company's products and services deliver unique value propositions to mobile data users, handset and smart-hardware companies, mobile virtual network operators (MVNOs) and mobile network operators (MNOs). Leveraging its innovative cloud SIM technology and architecture, the Company has redefined the mobile data connectivity experience by allowing users to gain access to mobile data traffic allowance shared by network operators on its marketplace, while providing reliable connectivity, high speeds and competitive pricing. For more information, please visit: https://www.ucloudlink.com/.

Contact:
Carina Cheung
carina-pr@ucloudlink.com
+852-31758988

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SOURCE UCLOUDLINK GROUP INC.

FAQ

What is the partnership between UCLOUDLINK and Tuya about?

UCLOUDLINK and Tuya have formed a strategic partnership to enhance technological cooperation in the IoT sector, focusing on combining their respective technologies.

What technology will UCLOUDLINK provide to Tuya?

UCLOUDLINK will provide cloud SIM technology and hyper-connectivity solutions to Tuya's smart products.

What are the expected outcomes of the UCLOUDLINK and Tuya partnership?

The partnership aims to drive innovation in the IoT industry and improve data connectivity services, which can lead to business growth opportunities.

When was the partnership between UCLOUDLINK and Tuya announced?

The partnership was announced on July 7, 2022.

What are the stock symbols for UCLOUDLINK and Tuya?

UCLOUDLINK's stock symbol is UCL, and Tuya's stock symbol is TUYA.