9/18/2008 9:01:00 AM
REDMOND, Wash.–(BUSINESS WIRE)–Sept. 18, 2008–Microvision
(NASDAQ:MVIS), the leader in light scanning technologies for display
and imaging products, today announced that is has begun shipments of
enhanced accessory projectors, enabled by its PicoP(TM) display
engine, to world leading consumer electronics original equipment
manufacturers (OEMs) and telecommunications carriers for evaluation
purposes, including end-user testing. The timing of these shipments is
consistent with the guidance the company gave during its second
quarter conference call and represents a significant milestone in the
commercialization process.
Microvision President and CEO Alexander Tokman commented, “We are
pleased to be providing the next generation prototypes in increased
quantities to our partners to commence their evaluation and end-user
testing. These units incorporate several important innovations and
advancements including: new generation green lasers, an even thinner,
smaller and brighter PicoP engine and several image quality
enhancements. We are looking forward to receiving valuable feedback as
we continue to move forward with our commercialization plans.”
The company expects OEM partners to use the enhanced units to
conduct evaluations over the next several months to obtain broader
user feedback in order to finalize the accessory pico projector
product design. These enhanced units contain next generation green
lasers that are built on the same platform expected to be used for
commercial production in 2009, and a smaller PicoP display engine that
is thinner and brighter than one used in the SHOW(TM) prototypes
introduced in the first half of 2008.
Following these external evaluations, Microvision intends to
incorporate user feedback into the final configurations of its PicoP
accessory projector. Final configuration product prototypes powered by
fully integrated ASIC electronics, which will be substantially
smaller, thinner and require less power, would then be provided to
global customers for expanded end-user studies and product reliability
and acceptance testing. This phase is expected to begin in late fourth
quarter 2008 and continue into the first quarter of 2009.
The company expects to receive customer orders following
successful completion of product acceptance testing during the first
quarter of 2009. Microvision plans to be in the position to begin
shipments of the commercial accessory product to customers in the
first half of 2009. The precise timing of a product introduction will
be dependent on customer feedback and product launch windows as well
as key component availability.
About PicoP
Microvision’s pico projector prototype is powered by its
proprietary PicoP display engine and connects directly to laptops,
mobile phones, portable media players, digital cameras and other
mobile devices to project large WVGA (848 X 480 pixels),
high-resolution images and video onto any surface. The projected
display is always in focus and can range anywhere from 8 inches (20
cm) to 100 inches (2.5 m) in size depending upon the ambient lighting
conditions. Whether projecting TV, digital photos, movies,
presentation slides or content from internet browsing to social
networking, PicoP enabled devices deliver outstanding viewing
experiences to consumers.
About Microvision (www.microvision.com)
Microvision provides the PicoP display technology platform
designed to enable next generation display and imaging products for
pico projectors, vehicle displays, and wearable displays that
interface to mobile devices. The company also manufactures and sells
its bar code scanner product line which features the company’s
proprietary MEMS technology.
Forward-Looking Statements Disclaimer
Certain statements contained in this release, including those
relating to commercial production, timing of customer studies, timing
and receipt of customer orders, future products and words such as
“expects,” “intends,” “plans,” and “would,” 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: availability and quantities of key components, our ability
to raise additional capital when needed; 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 the
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.
CONTACT: Microvision
Investors
Tiffany Bradford, 425-936-6847
Media
Matt Nichols, 425-882-6657
SOURCE: Microvision