Cogobuy subsidiary, INGDAN.com signed a memorandum of understanding (MOU) with Suning Intelligent Terminal Company to open up the upstream and downstream channel resources, and jointly build a new hardware innovation ecosystem through integrating the advantages of both sides as the leading intelligent hardware and O2O retail platform.
The integrations of the two companies will facilitate the development, application, and commercialization of IoT hardware in China. The companies have previously cooperated in smart home hardware, wearables, and smart cars.
Under the MOU, the new hardware ecosystem will bring together INGDAN.com's supply chain and project resources, and Suning Intelligent's sales channels and funds to accelerate the incubation, financing, product launch, and commercialization of smart hardware projects.
The initiative is positioned to drive greater integration of China's IoT industry and its traditional industries, as well as consolidate the field of intelligent hardware.
It is anticipated that projects from the collaboration will be able to receive vertically-integrated services including AI chip and module technology solutions, supply chain financing, and sales and distribution assistance, enabling a greater number of projects to realize industrial transformation.
INGDAN.com will help Suning Intelligent release a variety of intelligent hardware, including smart home devices, wearables, smart car devices, and many others. The companies will also work together to develop various new smart hardware products.