InHand Networks, a global leader in Industrial IoT, has released annual report and financial results of year 2017. The past year has witnessed our continuous growth with total revenue increased by 58.52% year-on-year to RMB 229 Million and net profit increased by 42.20% year-on-year to RMB 32 Million.
Total revenue YoY growth of 58.52% was mainly driven by the robust development of the IoT market. InHand IoT connectivity products have been deployed in various industries including smart grid, smart retail, industrial automation, transportation, healthcare, financial and more.
Apart from the IoT products, our 2 complete IoT solutions were also key contributors to the overall revenue growth.
InHand Wireless Overhead Line System (IWOS): revenue increased by 307.94% YoY. The IWOS helps utilities detect & locate faults, reduce power outage, and move from reactive to preventive maintenance. The IWOS was field proven by more than 50,000 line sensors installations by 2017.
InVending Smart Vending System: revenue increased by 151.25% YoY. Consisting of InBox vending computer and the Cloud management software, the InVending system has been adopted by both vending machine makers and operators worldwide.
The year 2017 also witnessed our employee growth and factory expansion. The new facility is able to house 16~20 product lines to meet ever-growing demands. InHand has shipped more than 330K IoT products to various countries around the globe in 2017, the 65% YoY growth firmly places InHand as one of the TOP THREE suppliers in the IoT market.
To view the full 2017 Annual Report in Chinese, please click Here.
Year 2017 News and Highlights