Semtech partners with Chinese bike-sharing company
Camarillo Internet of Things company Semtech struck up a partnership with Chinese bike-sharing company ofo, using its long-range, low power wireless technology to keep tabs on ofo bikes.
Called LoRa, the network technology enables ofo to track bikes in remote or densely constructed areas. The company provides bike-sharing in more than 180 cities worldwide, using GPS trackers to help users find their services.
The Chinese company will continue to look for other uses for IoT technology, co-founder Xue Ding said in a news release Oct. 18.
“Semtech’s LoRa technology is one of the best choices and ofo is willing to work with global partners to promote a green riding culture,” Ding said.
The company said it provides 10 million bicycles and 25 million rides per day.
“Long-range, low-power and ease of deployment are crucial for companies that are scaling at the rate like ofo is, and LoRa technology provides all of these features,” said Mike Wong, vice rresident of Semtech’s Wireless and Sensing Products Group.
Shares for Semtech slid 30 cents to end Oct. 18 at $38.75.
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