The company said it started shipping advanced compact lithium batteries for the new Timex IRONMON ONE GPS+ smartwatch. The smartwatch offers standalone wireless connectivity, unlike other smartwatches which require a connection to a smartphone.
"We feel that wearables represent an exciting area of growth for mobile devices, and smartwatches could provide a natural progression from current applications to help consumers further embrace wearable technology," Highpower chairman and CEO George Pan said in a press release. "We feel that our battery performance, seamlessness of services, and quality will allow us to compete for a proportionate market share of batteries for these products"
TheStreet Ratings team rates HIGHPOWER INTERNATIONAL INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate HIGHPOWER INTERNATIONAL INC (HPJ) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income and impressive record of earnings per share growth. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk, poor profit margins and weak operating cash flow."