"We will work to develop business models to promote, market and distribute smartwatches to our combined customer base, and expect to leverage each company's distribution strengths across the global market while benefiting from established online and offline channels," said Wang Huang, Chairman and CEO of Huami Corporation.
The companies also expect to explore and develop value-added services including e-payment, weight management, sports, fitness and health care-related services for users.
"Together with Huami, we will bring forth a new generation of smart watches set to disrupt the category," said Tobias Reiss-Schmidt, President and CEO, Timex Group.
"With the deep-rooted product development and craftsmanship capabilities of Timex along with Huami's enhanced sports, healthcare and AI technology, we have the opportunity to bring cutting edge wearable technology to consumers around the world," he added.
Since its inception in 2013, Huami has established its global presence by shipping millions of units of smart wearable devices.
The company shipped 18.1 million smart wearable devices last year.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)