Harvard Business Review, Jan/Feb 2013
Thanks to the mass adoption and acceptance of smartphones and tablets, the way we consume information has changed drastically over the last five years and is set to rapidly continue the transition to mobile devices in the next five years. In fact, if the latest forecast from Cisco Systems holds true, mobile data consumption (based on data traffic) could increase 13-fold by 2017 with mobile video showing some of the most dramatic increases.
Whether it’s catching up on a Forbes article, enjoying the latest hit from a favorite recording artist or watching the newest episode of “Homeland” on a flight, it’s crystal clear that mobile devices are about so much more than just making calls, sending a text or even browsing the web. A recent report from TDG states that based on product sales and use, consumers will watch nearly 58 billion hours of TV and video on tablets by 2017, which is nearly 10 percent of all current TV and online video consumption. Taking this one step further, mobile devices no longer imply mobility by users; 68 percent of this type of mobile use happens in the comfort of our own homes and is described by viewers as “me time.”
When we at MicroVision look at these statistics and industry growth expectations, we get even more excited about the opportunity for pico projection. Downloading and watching visual content, like movies and TV shows, is easier and faster than we could have ever imagined; nonetheless, the screens where we view this content are some of the smallest to date. Even a 7” tablet is limiting when watching video content. With PicoP® display technology, users will be able to enjoy all the benefits and freedom of mobile data in high definition without the limitations of the small screens.
We just touched on the tip of the iceberg for mobile data predications in this post. Dive into the articles we’ve linked to above for more information.
Heading into a new year is always a good time to reflect back on the previous year. For MicroVision 2012 was marked by significant advancements in the second generation of our PicoP® display technology and the transition to our ingredient brand business model.
Key highlights of 2012 include:
— Unveiling MicroVision’s HD PicoP® Gen2 display technology using direct green lasers at the 2012 Consumer Electronics Show (CES). With its small form factor, low power and superior image quality, PicoP Gen2 display technology even received the ‘CES Product of the Future’ award by Popular Science.
— Transitioning to our core “Image by PicoP®” ingredient brand business model. Under this model, we reported royalty revenue in Q3 as well as positive margin on components sales that quarter.
— Shipping PicoP® Gen2 display engine design samples for customer evaluation to more than two dozen companies in the automotive and consumer electronics sector by the end of Q3.
— Launching the first commercial product to incorporate PicoP Gen2 display technology, Pioneer’s Carrozzeria Cyber Navi heads-up display system, debuting in Japan in July.
— Entering a strategic partnership with Intersil to strengthen PicoP display technology’s cost and performance roadmap.
— Increasing revenue in Q3 by more than 40 percent year over year and significantly decreasing cash used in operations, as announced in the Q3 earnings release.
An additional highlight in 2012 was significant advancements in the commercial availability of direct green lasers (DGL) with Osram announcing its first commercial DGLs, Sony announcing its intent to enter the DGL market, and an additional supplier providing direct green lasers to Pioneer for the Cyber Navi.
2013 gets off to a quick start with CES this week. In keeping with our ingredient brand business model for licensing our technology to OEMs, MicroVision will take advantage of the converging of the major consumer electronics, cellphone and automotive OEMs in Las Vegas. Our focus is on furthering strategic business partnerships and reaching potential customers in private meetings in lieu of a public exhibition. We have some great meetings lined up and are eager to start this year off building upon the momentum and progress of 2012.
MicroVision is committed to developing innovative display technology that lets consumers see outside the box. Because of our dedication to research and development to keep our patented PicoP® display technologyon the cutting edge and offering our customers leading features today with a roadmap for future advancements, we boast an expansive technology portfolio that now includes more than 500 patents. That’s why we were excited to learn that MicroVision’s patent portfolio has been included in the Ocean Tomo 300 Patent Index for the second year in a row.
The Ocean Tomo 300 Patent Index is the first index based on the value of intellectual property and includes well-known technology companies such as Microsoft, Intel, Qualcomm, Nvidia, and MicroVision partner, Intersil. To be included in this respected list is a true testament to the hard work of our world-class employees and experienced engineers, who are committed to developing pico projection display solutions that deliver value to our customers and an enhanced viewing experience to their end-consumers whether they are using a head-up display in a vehicle or sharing visual content from a mobile device.
MicroVision’s patent portfolio has also been widely recognized by associations such as IEEE and the Patent Board (in association with the Wall Street Journal) as top patent portfolios among global industrial companies. As we continue to license our technology to OEMs and ODMs, our leadership in IP supports our business model and assures our customers they are receiving best-in-class technology.
Because of our IP portfolio, we can truly say that our proprietary PicoP display technology is unlike any other, offering significant display advantages over other pico projector display systems and providing a wide array of benefits for various applications such as mobile, automotive, gaming and eyewear.