6/30/2003 6:05:00 AM
Breakthrough is Key Milestone Expected to Enable Miniature Displays
for Consumer Electronics Products
BOTHELL, Wash.–(BUSINESS WIRE)–June 30, 2003–Microvision, Inc. (Nasdaq:MVIS), a leader in light scanning
technologies, today announced that it has achieved a significant
breakthrough that is expected to enable the development of
microminiature displays and imaging systems that are much more compact
and affordable than those that the company is currently producing.
According to the company, the new design should improve not only
size and cost but is expected to also increase reliability and reduce
the power required to operate the silicon micromirror that is the
centerpiece of Microvision’s scanned beam systems.
The company’s current displays make use of a micromechanical chip
that is packaged in a vacuum-sealed enclosure in order to maximize its
performance. The new design eliminates the vacuum — without impacting
performance — and simplifies the electrical drive structure of the
scanning engine to enable solutions that consume less power and are
dramatically smaller, lighter and lower in cost. Eliminating the
vacuum package also improves the optical performance of the scanner.
The current design enables displays with up to 1.4 million color
pixels, but the new drive structure may also enable further
improvements in display resolution.
“This breakthrough should enable us to develop a scanning engine
that can support a wide range of high volume consumer products,
including electronic viewfinders for digital cameras and camcorders,”
said Rick Rutkowski, Microvision CEO. “The new scan engine is also a
big step on the path toward integrating high-resolution electronic
displays into something like conventional eyeglasses that could be
used in a variety of applications including computer gaming, portable
movie players and mobile devices, such as cell phones and PDAs. We
believe that Microvision’s displays are going to deliver a combination
of performance, package size and price that is uniquely matched to the
requirements of consumer electronics applications. This development is
anticipated to ultimately benefit all of our product initiatives
including our activities in automotive displays and next generation
miniature cameras for medical and industrial applications.”
About Microvision: www.microvision.com
Headquartered in Bothell, Wash., Microvision, Inc. is a world
leader in the development of high resolution displays and imaging
systems based on the company’s proprietary silicon micromirror
technology. The company’s technology has applications in a broad range
of military, medical, industrial, professional and consumer products.
Microvision has been working with Canon, BMW, Johnson & Johnson’s
Ethicon subsidiary and others to develop a number of display and image
capture product applications based on its proprietary scanned beam
technology. The company also recently concluded a field trial with
America Honda Motor Company for automotive maintenance and repair
applications for its Nomad Augmented Display that achieved a 39%
increase in mechanic productivity. Microvision has also signed an
agreement with NCR to market its Flic laser bar code scanner under a
private label.
Forward Looking Statement
Certain statements contained in this release, including those
relating to product development, future products, product
efficiencies, performance and reliability, product applications, and
potential market opportunities, as well as statements containing the
words “expects,” “believe,” “anticipates,” “should” or “may,” 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: market acceptance of our
technologies and products; our ability to obtain financing; 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 and to develop
partnership opportunities; the timing of commercial product launches;
the ability to achieve key technical milestones in key products; and
other risk factors identified from time to time in the company’s SEC
reports, including in its Annual Report on 10-K for the year ended
December 31, 2002 and its Quarterly Reports on Form 10-Q.
CONTACT: Microvision, Inc. Matt Nichols, 425/415-6657 (media)
Brian Heagler, 425/415-6794 (investors)
SOURCE: Microvision, Inc.