BOTHELL, Wash., Dec. 6 /PRNewswire/ — Microvision, Inc., (Nasdaq: MVIS)
announced today that its Imaging Solutions Group has successfully demonstrated
a prototype bar code scan engine that features a highly innovative
laser-scanning mechanism. The announcement follows the demonstration by the
company in October of a bar-code reading device that featured proprietary
decode software and electronics that promise to improve scanning performance
and reduce cost. This latest development focuses on improvements to the
scanning optics, and makes use of novel design concepts to achieve the very
low-power operation, small size and low cost that will be essential for use
with mobile Internet devices.
Scan engines based on this technology will enable hand-held and mobile
devices to link to the Internet, by allowing them to electronically “read”
information from a printed page. Based on the scanned information, the device
will initiate a link to related web content so that consumers will be able to
use the scanner-enabled devices to purchase items, pay bills and upload media
content by simply aiming the scanning beam at a code on a printed page.
According to recently published market research, revenue from mobile commerce
(M-commerce) — Internet commerce initiated by mobile devices — is projected
to grow from $4 billion worldwide this year to $211 billion by 2005.
The company’s initial target is for stand-alone devices that can be
connected to existing cell phones, PDAs and PCs with subsequent introduction
of fully integrated units. The company believes that the potential available
market is for tens of millions of devices annually.
“We have a very aggressive target for cost of goods on this product. We
believe that the approach our team has demonstrated in this new scanning
technology is revolutionary and enables remarkably low cost devices,” reports
Chris Wiklof, Business Development Manager for Microvision’s Imaging Solutions
Group. “We also believe our novel approach offers significant
price/performance advantages to consumers and low-end industrial customers
alike. We also believe that Microvision will secure important intellectual
property protection as a result of this work. By any standard, I would
consider likely patent protection arising from our work to be truly pioneering
Microvision has previously announced plans to develop consumer-oriented
bar code scanners based on core technology developed for its retinal scanning
display systems. Its initial outlook was for prototype shipments during the
first half of 2001 with production quantity shipments during the second half
of the year.
“We continue to be pleased by the rapid progress made by our design team,”
says Wiklof. “Our team has consistently found ways to beat our expectations.
We had not expected this much progress until February. We have not yet
accelerated our production schedule, but we are certainly well ahead of the
game at this point.”
Microvision’s Imaging Solutions Group was formed earlier this year to
develop new applications and markets for the company’s proprietary scanning
and imaging technology, which was developed to support the real-time,
high-resolution requirements of the company’s retinal scanning display
technology. The company believes that a broad range of imaging applications
can take advantage of the high performance, miniature size and mass
fabrication potential of the underlying components and optical systems
Headquartered in Bothell, Wash., Microvision, Inc. is the developer of the
patented retinal scanning display technology and a world leader in micro
miniature optical scanning technology for display and imaging applications.
The company’s technology has application in a broad range of military,
medical, industrial, professional and consumer information products.
Additional information can be found at the company’s Web site at
The information set forth in this release includes “forward-looking
statements” within the meaning of Section 21E of the Securities Exchange Act
of 1934, as amended, and is subject to the safe harbor created by those
sections. Certain factors that realistically could cause results to differ
materially from those projected in the company’s forward-looking statements
are set forth in the company’s Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q, as filed with the Securities and Exchange Commission.