- Retail sales of toys and games in China soared from RMB111.8 billion in 2012 to RMB276.6 billion in 2017, registering an average annual growth rate of nearly 20 percent
- Favorable Chinese government policies emphasize the research and development of new technologies such as augmented reality (AR) and virtual reality (VR)
- The global trend toward AR and VR products is expected to increase dramatically from 2018 to 2025, with market value projected to reach $767 billion
- Blue Hat owns an extensive portfolio of proprietary technologies, patents, artwork copyrights, trademarks and software copyrights
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) is a leading producer, developer and operator of augmented reality (AR) games and smart toys in China for children and young adults ages three to 23. The company’s product line includes interactive educational materials, mobile games and toys with mobile game features. Blue Hat’s mobile-connected entertainment platform enables the connection of physical items to mobile devices through wireless technologies, creating a unique interactive user experience.
The global augmented reality (AR) and virtual reality (VR) market is expected to thrive over the foreseeable future, according to Market Research Future analysis published February 12, 2019. The report suggests that the AR/VR market value is likely to reach $767 billion by 2025 as companies begin to adopt the interactive technology across different industry verticals (http://nnw.fm/yJGh2). China’s toy market is soaring as well, with total retail sales of toys and games registering an annual growth rate of nearly 20 percent, reaching RMB276.5 billion in 2017, according to the Hong Kong Trade Development Council (“HKTDC”) (http://nnw.fm/Sx3QK).
Founded in 2010, Blue Hat utilizes augmented reality technology, motion capture technology, image recognition technology, voice control, light sensing technology, infrared, levitation induction and other trending scientific technologies to create toys and games that children enjoy and that parents want to have in their homes. The company advocates a new model of “teaching through lively activities” and combines AR technology with education, integrating its products into situational teaching, roleplaying and man-machine interaction (http://nnw.fm/ePlb9).
Blue Hat is led by Director and CEO Xiaodong Chen, who has over 20 years of experience in developing and operating toys and related products. The company has developed long-term relationships with preferred distributors, placing its AR interactive entertainment products into internationally known retail chains such as Toys ‘R’ Us (now owned by Tru Kids Inc.) and other retail outlets. Blue Hat also has integrated online and offline sales channels with e-commerce giants and a physical store in Xiamen, China.
For more information, visit the company’s website at www.BlueHatGroup.net
NOTE TO INVESTORS: The latest news and updates relating to BHAT are available in the company’s newsroom at http://nnw.fm/BHAT
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information please visit https://www.networknewswire.com
New York, New York