Huami has lately changed their name to Zepp Health Corp on an international level. Mike Yeung, the company’s COO, discusses the reasons for the decision and the company’s future possibilities.
In mid-2018, Huami purchased Zepp’s main assets in order to increase its foothold in the premium sports products industry. Zepp is a band from California that has been active since 2011. It is well renowned for its cutting-edge technology, which includes 3D images and interactive teaching tools. Zepp is also recognised for having a large number of professional athletes as endorsers.
Perhaps yesterday’s decision was unavoidable. In August 2020, the firm changed the name of its smartphone fitness app from Amazfit to Zepp. The only difference is the name of the app; both Amazfit and Zepp watches use the same software.
The company’s name is currently undergoing a similar rebranding process. The ticker symbol for its NYSE-listed American depositary shares has been changed. Later this year, Zepp Health plans to introduce a redesigned corporate website as well as a new visual identity.
Huami’s global name is changed to Zepp, however the Huami brand remains in China.
What’s the story behind the new moniker?
The basis for this decision is that Zepp is a more well-known name in the United States and Europe. This could also be part of Huami’s plan to expand into the lucrative commercial healthcare market.
“The name Zepp Health more effectively articulates our change as an organisation, the extension of our current product range, and growth in serving the commercial healthcare industry,” said Mike Yeung, COO of Zepp Health.
“Moreover, ‘Zepp’ is a much easier to remember name that crosses languages, cultures, and boundaries.”
In China, the company will continue to be known as Huami. Because of its tremendous brand recognition in its home market, this is the case.
The revelation of the name change was accompanied by a press release that hinted to a small shift in direction in the future. The term “industrial health space” is used explicitly.
Mr. Yeung was questioned if he meant the corporate and institutional health market or something else entirely.
“We’ll keep leveraging our own technology platform, which includes AI chips, biometric sensors, and data algorithms, to power a growing line of smart health devices for consumers, healthcare providers, and industry analytics services,” he said.
“With firms like Hyperfine and Promaxo, we’ve secured a number of key alliances in the last six months to jointly develop new medical imaging product lines and grow into the commercial healthcare industry in 2021.”
To that aim, Zepp Health launched a collaboration with Rouumtech Co. yesterday. For the Chinese market, they will private-label the company’s whole portfolio of X-ray imaging goods, including a customised Europa portable X-ray system.
What about the present product line?
Since the Zepp takeover, Huami has kept and expanded the Amazfit portfolio. Mr. Yeung stated that Amazfit’s range of health equipment will continue to produce new gadgets. The same can be said for Zepp, which has already released a few watches, including the Zepp E and Zepp Z.
“We will continue to introduce more new Zepp and Amazfit devices to worldwide consumers later this year, albeit we cannot share details of our future product plan.”
Huami’s new smartwatch, the Zepp E, has been officially launched.
Zepp is the source of this image.
Zepp was well-known in its previous iteration for its involvement in individual sports. Its product line comprised smart tennis, golf, and other sports equipment. Mr. Yeung was asked if there were any intentions to develop products in this field.
“Over the previous decade, the Zepp brand has built a dedicated following for its accuracy and precision in monitoring athletic activity, as well as its focus on tailored health management,” he said.
“We introduced three Zepp smartwatches in the last year, and we plan to expand our product range with a growing line of smart health devices for consumers, healthcare providers, and industrial analytics services.”
Mr. Yeung feels his company has a strong position in the worldwide wearable technology sector. In recent years, it has increased its part of the pie.
“We are one of the world’s largest producers of smartwatches and fitness bands. For example, in 2019, we shipped 36.6 million smartwatches and fitness bands, including our Amazfit brand and Xiaomi-developed and-manufactured products, accounting for 23% of global shipments.”
“Zepp Health (Huami) shipped a total of 15.9 million units in the third quarter of 2020, up 16 percent year over year. Amazfit watches placed #1 in the adult watch market in India, Indonesia, Italy, and Spain, according to IDC’s wearable device study for Q2 2020. Amazfit watches also came in third place in Thailand, fourth place in China, and fifth place in Germany, France, Brazil, and Poland.”
“While our consumer wearables compete with other consumer wearable smartwatches on the market, Zepp Health is more than just a maker of consumer smartwatches and wearables. We’re expanding our commercial portfolio by investing in the enterprise health and imaging industry.”
Zepp Health Corp will undoubtedly do even better in the future. The company is already on its second generation optical heart rate sensor, and blood oxygen tracking has recently been added to a number of its wearables.
“BioTrackerTM2, a second-generation PPG biology tracking optical sensor; RealBeatsTM2, a second-generation heart rate engine; OxygenBeatsTM, a blood oxygen engine; SomnusCareTM, a sleep data engine; ExerSenseTM, an AI recognition engine for motion patterns based on sports big data; and Huami-PAITM, a human health assessment system”
“A number of health measures, including ECG, SpO2, sleep quality, and stress level, are presently tracked by our most advanced smartwatch, the Zepp Z.”
Mr. Yeung sees a lot of opportunities in the commercial healthcare business over the next five years. Competition will be fierce, as a number of other businesses, like Apple, Fitbit, and others, are chasing this lucrative market.
“We believe there is a tremendous opportunity to incorporate wearables that enable real-time clinical monitoring into commercial healthcare devices like MRIs, CT scanners, and other technologies—some of which may not even exist yet!” says the company.