MicroVision has received follow-up questions after our August 8, 2013 earnings conference call regarding our relationship with Pioneer Corporation. So we wanted to expand on the discussion here.
We are very pleased with our relationship with Pioneer and to be part of the CYBER NAVI HUD – a world’s first on many levels. It was the world’s first HUD to project augmented reality and to use direct green lasers. And of course for MicroVision it was the first commercial product with PicoP Gen2 technology and Pioneer was our first customer to go to market under our “Image by PicoP®” ingredient brand business model.
As the automotive industry continues to evolve the role and integration of information systems in cars, Pioneer is also evolving its business model and focus for car navigation systems to align with the changing market. They recently launched a 2013 edition of the CYBER NAVI HUD with updated features that are all about information integration and sharing. The display engine for the augmented reality HUD in the latest CYBER NAVI is based on MicroVision’s PicoP display technology and incorporates parts we have supplied to Pioneer. You can read more about the latest features in the CYBER NAVI in Pioneer’s Press Release and a recent Engadget article reviewing the new 2013 edition. And of course, as a visual display company we are all about seeing things in images, so the latest CYBER NAVI video Pioneer has posted to You Tube is worth a look as well. Even if you don’t understand Japanese, you get the idea of the way the product is taking in information and displaying it for the driver. The bright clear images that can be seen in daylight are hallmarks of PicoP display technology in HUD deployment.
As for our business relationship with Pioneer, we have received orders of $ $5.8 million from Pioneer which we fulfilled from Q2 2012 through Q2 2013. The quality of the components has been extremely high and the display engine based on PicoP display technology has performed well. We have several of the commercial CYBER NAVI systems and they get a “wow” response when we show them off. As we discussed on the conference call, we continue to engage in discussions with Pioneer on future business opportunities, with focus on embedded HUD as that is where we see the highest potential as we believe this is where the automotive industry is also focusing for HUD. We have been a proud partner of Pioneer’s and look forward to continued opportunities to be part of future innovative products they may bring to market.
If you are interested in learning more about the business changes Pioneer is making, they have recently issued multiple press releases talking about their restructuring, business model updates, and business alliances.