10/27/2014 8:30:22 AM
Companies extend collaboration following completion of development as
they prepare for production
REDMOND, Wash.–(BUSINESS WIRE)–Oct. 27, 2014–
Inc. (NASDAQ: MVIS), a leader in innovative ultra-miniature
projection display technology, today announced it has entered into an
agreement valued at $1.5 million with its Fortune Global 100 customer
for display module support services.
MicroVision recently announced successful completion of development work
under an April 2013 agreement. The company and its customer will now
transition to focusing on commercialization activities that are expected
to span several phases including production readiness, initial
production and market launch for the display module.
“We are pleased to provide continued support to our Fortune Global 100
customer as we work together to bring the display module incorporating
PicoP® display technology to market,” said Alexander Tokman,
president and CEO of MicroVision.
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. The
company is based in Redmond, Wash.
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 growth, future products and collaborations, technology development
and sales and product benefits, and those containing words such as
“expected” 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.