6/5/2014 9:00:28 AM
Development Activities in 2014 to Support Possible Product
Introduction in 2015
REDMOND, Wash.–(BUSINESS WIRE)–Jun. 5, 2014–
Inc. (NASDAQ:MVIS), a leader in innovative ultra-miniature
projection display technology, today announced that it is collaborating
with a major global consumer electronics brand to develop a display
engine for use in an innovative smartphone product.
This new customer, listed on the Fortune Global 500, is a leading name
in consumer electronics. The companies plan to collaborate on this
development activity targeting a possible second half 2015 product
“We are extremely pleased to be working with this industry-leading
electronics brand on a display engine for a truly innovative product
incorporating our revolutionary PicoP display technology,” said
Alexander Tokman, president and CEO of MicroVision.
This design win, which is the culmination of months of design work and
technical discussions, is the second for MicroVision with a major
electronics brand on the Fortune Global 500. Previously the company
announced a development agreement with another global electronics brand
for a custom display module incorporating PicoP® display
technology. MicroVision has announced that it is ramping up for volume
production of key components with the goal to be ready in the second
half of 2014.
MicroVision’s PicoP display technology provides a powerful
display solution that projects high-definition, focus-free content from
a tiny, low-power display engine. MicroVision’s technology enables OEMs
to deliver a high-quality consumer viewing experience to their customers
by offering enhanced ways to view and share information. Whether for
personal entertainment, social engagement, business collaboration,
driver safety or in whatever way OEMs’ imaginations take them, PicoP
display technology could be the exciting new element that consumers are
searching for to elevate their mobile experience.
MicroVision is the creator of PicoP® display technology, an
ultra-miniature laser projection solution for mobile consumer
electronics, automotive head-up displays and other applications.
MicroVision’s patented display technology helps OEMs break down display
boundaries and offer enhanced visibility to mobile experiences. Nearly
two decades of 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 is also
included in the Ocean Tomo 300 Patent Index. The company is based in
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 relating
to future product and technology development, introductions and sales,
as well as consumer demand, and those containing words such as “plan,”
“goal,” “targeting,” “possible,” and “could,” 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 display engine 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.
Source: MicroVision, Inc.