10/23/2007 6:30:00 AM
REDMOND, Wash.–(BUSINESS WIRE)–Oct. 23, 2007–Microvision
(NASDAQ:MVIS), the leader in light scanning technologies for display
and imaging products, announced today it has entered into a
development agreement with one of the world’s largest consumer
electronics manufacturers of mobile phones, digital cameras and
personal media players.
Under the agreement, the manufacturing partner will integrate
Microvision’s proprietary PicoP(TM) display engine into fully
functional stand-alone projector prototypes. The projector prototypes
are expected to be marketed to leading consumer electronics companies
for private labeling and distribution for mobile applications
including mobile phones and other devices. The accessory prototypes
will incorporate the PicoP display engine that is being developed by
Microvision’s other strategic supply chain partners. For
confidentiality reasons and at the request of the manufacturing
partner, Microvision is not releasing the partner’s name or details
regarding the expected timing of the product launch.
“In our pursuit of high volume consumer and automotive
applications we are partnering with world leading manufacturers to
bring the PicoP, our ultra-miniature, low power projection display
technology to market,” stated Alexander Tokman, Microvision President
and CEO. “This agreement is another example of our commitment to
accelerate PicoP’s path to market by leveraging the extensive
integration and manufacturing capabilities of one of the world’s
largest suppliers of mobile phones, digital cameras and personal media
players.”
The PicoP accessory projector is expected to be the size of
today’s feature-rich cell phones and will provide consumers with a
‘large screen viewing experience’ by projecting multimedia content
from their mobile phones and other devices. The PicoP accessory
projector is designed to deliver a large, full-color, WVGA display
that is always in focus even when projecting onto curved surfaces.
Applications for the accessory projector could include watching mobile
television, movies, personal videos, photographs, web surfing, gaming
and various business applications.
About Microvision www.microvision.com
Microvision provides the PicoP display technology platform
designed to enable next generation display and imaging products for
pico projectors, vehicles 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 future products and product applications, as well as
statements containing words like “expects,” “could,” and other similar
expressions, 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; our financial and technical resources
relative to those of our competitors; our ability to keep up with
rapid technological change; our dependence on the defense industry and
a limited number of government development contracts; 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
Matt Nichols (media), 425-882-6657
or
Tiffany Bradford (investors), 425-936-6847
SOURCE: Microvision