Today, MicroVision issued a press release announcing the following distribution agreement:
REDMOND, Wash. and Taipei, Taiwan– Sept 13, 2017 – MicroVision, Inc. (NASDAQ: MVIS), a leader in innovative ultra-miniature projection display and sensing technology, and WPG Holdings (TSE: 3702, WPG), the largest distributor of semiconductor components in Asia, today announced that they have entered into an agreement for distribution of MicroVision’s line of PicoP® scanning engines across Asia.
WPG will distribute MicroVision’s engine products in China, Taiwan, Japan, Korea, India and Southeast Asia through its subsidiaries AIT Group, WPG Korea and South Asia. MicroVision has announced its plans to have three different PicoP scanning engines in the market in 2017 and 2018: the first engine is available now for applications that benefit from a small form factor display engine; the second engine, for which development kits began sampling this quarter, combines projected display with an interactive user interface that mimics the familiar touch screen of a smartphone or tablet; the third engine is a 3D sensing solution for mid-range LiDAR, and samples are expected to be available in the first half of 2018.
“We are intrigued by the different scanning engine products MicroVision is developing and impressed with the capabilities of PicoP® scanning technology to support multiple applications from a common technology platform,” said Frank Yeh, Chief Executive Officer of WPG. “We see great potential with this product line and are looking forward to introducing this ground breaking technology to our customers across Asia.”
“Bringing new technology to market requires strong partners, and WPG and its subsidiaries have the leadership, regional presence and demonstrated service level we were seeking in a distributor,” said Alexander Tokman, President and Chief Executive Officer of MicroVision. “As the number one semiconductor distributor in Asia with trans-national services and established customer relationships across the Asia region, this partnership with WPG can help us grow the market for our PicoP® scanning engines.”
WPG and its subsidiaries will provide sales and marketing and technical support as well as distribution services. The agreement is effective immediately.
MicroVision is the creator of PicoP® scanning technology, an ultra-miniature laser projection and sensing solution based on the laser beam scanning methodology pioneered by the company. MicroVision’s platform approach for this advanced display and sensing solution means that it can be adapted to a wide array of applications and form factors. It is an advanced solution for a rapidly evolving, always-on world. MicroVision’s business model and product line offering includes display and sensing engines, licensing its patented technology and selling components to licensees for incorporation into their scanning engines.
Extensive research has led MicroVision to become an independently recognized leader in the development of intellectual property. MicroVision’s IP portfolio has been recognized by the Patent Board as a top 50 IP portfolio among global industrial companies and has been included in the Ocean Tomo 300 Patent Index. The company is based in Redmond, Wash.
WPG Holdings is the number 1* global semiconductor distributor and the largest electronics distributor in Asia, with headquarters in Taipei, Taiwan (TSE:3702). WPG Holdings, operating through four leading semiconductor components distributors (WPIg, SACg, AITg, and YOSUNg), serves as a franchise partner for nearly 250 world-wide suppliers. With 5,100 staff in about 71 IED and 34 Non-IED sales offices around the world (about 43 IED & 34 Non-IED in Greater China and Asia Pacific region), WPG Holdings achieved US$16.65 billion in 2016 revenue. (*Source: Ranked No. 1 by Gartner Research Mar. 2016.)
MicroVision and PicoP are trademarks of MicroVision, Inc. in the United States and other countries. All other trademarks are the properties of their respective owners.
Certain statements contained in this release, including those using words such as plans, expects or similar words and those relating to shipping schedules, future product and product applications are forward-looking statements that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those projected in the company’s forward-looking statements include the following: our ability to raise additional capital when needed; products incorporating our PicoP® scanning technology may not achieve market acceptance, commercial partners may not perform under agreements as anticipated, we may be unsuccessful in identifying parties interested in paying any amounts or amounts we deem desirable for the purchase or license of IP assets, our or our customers failure to perform under open purchase orders; our financial and technical resources relative to those of our competitors; our ability to keep up with rapid technological change; government regulation of our technologies; our ability to enforce our intellectual property rights and protect our proprietary technologies; the ability to obtain additional contract awards; the timing of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products; dependence on third parties to develop, manufacture, sell and market our products; potential product liability claims; and other risk factors identified from time to time in the company’s SEC reports, including the company’s Annual Report on Form 10-K filed with the SEC. Except as expressly required by federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changes in circumstances or any other reason.
Dawn Goetter, firstname.lastname@example.org, 425-882-6629 (investors)
Heather Hewit, email@example.com, 732-212-0823 (media)
WPG MarCom, firstname.lastname@example.org, 886-2-8797 8860
AIT Group Taiwan, email@example.com, 886-2-2656 3868
AIT Group China, firstname.lastname@example.org, 86-21-2309 9388
AIT Group Japan, email@example.com, 81-3-6744 2555
WPG Korea, sales@kr.WPGholdings.com, 82-2-425 2800
WPG South Asia, firstname.lastname@example.org, 65-6282 5188