Non Nomad thoughts....

While the Nomad II is very exciting (and affordable!), Microvision can use variants of the same product engine to create a wide variety of other products.

Most widely discussed is the Electronic View Finder (EVF) developed under contract to Canon. Interestingly, (to the best of my knowledge) Microvision retains the rights to license the EVF to other digital camera manufacturers.

Oct.27.03 Canon and Microvision Enter Phase III Agreement for Supply of Microdisplay Prototypes

Feb.19.03 Canon and Microvision Enter into New Agreement

Mar.11.02 Microvision To Collaborate With Global Leader in Computer Peripherals, Optics and Imaging On Development of Consumer Electronics Applications for Unique Miniature Displays

Over the last two years, MVIS has gone from the initial stages of collaboration with Canon, to 'Phase III' prototypes of their digital camera viewfinder. An excerpt from the 10.27.03 press release:

"A Canon senior executive said: "Canon is pleased with the outcome of the phase completed recently. Microdisplay technology development is making good progress. Canon needs to continue this activity with Microvision to further the development activities for the commercialization of the Microdisplay, and introduce innovative imaging products."

Analysts at Gartner Dataquest project that combined production volumes for digital still cameras, and digital video cameras will reach nearly 80 million units annually by 2007."

The author of this blog suggests that: MVIS and Canon's product will be commercialized before 2007. Should even a very small fraction of the 80 million units sold annually use the MVIS EVF, we are looking at hundreds of millions of dollars in revenue from this application alone (assuming $40 revenue per unit) in 2007.

More optimistic assumptions about market share push the revenue from this application alone into the Billions of dollars.

All this from a company that today is valued at $191M?

I can only chalk up our valuation to the insane risk aversion that stems from the post dot-com bubble bursting.