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Microvision to Develop Innovative Displays with a Global Automotive Tier 1 Supplier

Microvision to Develop Innovative Displays with a Global Automotive Tier 1 Supplier

Tuesday March 27, 7:00 am ET

REDMOND, Wash.--(BUSINESS WIRE)--Microvision (NASDAQ:MVIS - News), the leader in light scanning technologies for display and imaging products, announced today that it has entered into a product development agreement with a second global Tier 1 automotive partner. Under the agreement, Microvision will work with this world leading Tier 1 automotive supplier to create innovative projection-based display solutions based on PicoP(TM), an ultra miniature full-color laser projector powered by the company's Integrated Photonics Module (IPM(TM)) technology. For confidentiality reasons, the name of the Tier 1 supplier and other details of the contract were withheld.

"This is another major automotive Tier 1 to recognize the enormous potential of our laser scanning based projection system and it further reinforces our conviction that Microvision's PicoP technology can enable a diverse class of new and exciting automotive display solutions, beyond just head-up display (HUD) applications," said Alexander Tokman, President and CEO of Microvision.

"Today, global automakers are looking for better, more efficient and flexible ways to display information to drivers and passengers. In addition to established information systems (car audio, vehicle monitoring, mobile phones), navigation systems are becoming common place. All of this information is displayed to the driver using a variety of display technologies with varying levels of performance and price. Microvision's ultra miniature laser projection display offers a higher degree of design flexibility and programmability compared with flat panel based technologies. For example, with PicoP automotive designers will be able to create irregular display surfaces that can be contoured and shaped to meet a variety of styles expectations and space constraints." -- concluded Tokman.

About Microvision: www.microvision.com

Headquartered in Redmond, Wash., Microvision Inc. is the world leader in the development of high-resolution displays and imaging systems based on the Company's proprietary silicon micro-mirror technology. The Company's technology has applications in a broad range of consumer, medical, industrial, professional and consumer products.

Forward-Looking Statements Disclaimer

Certain statements contained in this release, including those relating to plans for product development and future product applications and benefits, as well as statements containing words like "will" and "expects" 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; risks related to Lumera's business and the market for its equity, market acceptance of our technologies and products; 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.

Comments

  1. This is great news!. I know as an investor I look forward to seeing the financials behind this deal, but am thrilled that your product is being recognized in the marketplace.

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  2. Thank you! This is very cool -- we'll be using PicoP to create reconfigurable gauges and instrument displays, so you can suit whatever mood you're in: classic needles and dials, pure digital readouts, any color scheme, whatever you like.

    Personalization is the name of the game. No two instrument clusters will look the same!

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  3. The entire dashboard could be a blank screen which is illuminated by a series of IPMs. One IPM handles the instrument cluster. Another IPM shows GPS information. Another IPM shows the internet or whatever media the passenger chooses to see.

    Personalization is a cool idea. Using an APP on your computer, the user defines what the dashboard will have and how it will look and then uploads the information to the car through 802.11 connection.

    This is huge.

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  4. Ben:
    I was just reading an article posted on Redherring.com stating that Texas Instruments just unveiled its own pico-projector. According to the article, TI will demonstrate a proto-type on Monday. The article is a must read. Please let us know if this is real competition?

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  5. Well, the TI device uses a projection lens which means it does not have the infinite focus capability of PicoP. You'll have to shine it on a surface, and then adjust the focus each time. Ours is in focus on any surface, at any distance.

    We also believe that our PicoP has significant power efficiency, heat and size advantages over miniature projectors using DLP.

    Personally, I see it as validation of the market that TI wants to leverage DLP into this space.

    I also believe that the smallest, thinnest device will win. Image quality, power consumption and heat management are other aspects critical to quality.

    We think we're well positioned and certainly have the only projector device that can be integrated into existing thin and sleek handsets.

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  6. This is _complete_ rubbish. A projection lens does not preclude infinite focus, providing lasers are used as a light source.

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  7. today's optical physics lesson brought to you by anonymous message board poster!

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  8. I believe the lens is for magnifying instead of focusing when laser is used.

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  9. mr. anonymous..
    every lens has a focal point, there's where the image is focused at. check out any high school physics textbook

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  10. To the subject at hand. MVIS has managed to land two developement contracts with Tier one OEMS This is huge. This alone gives credence to the technology and the management. DLP would be better suited for HUD than cell phones and the AUTO HUD contracts are going to MVIS as we speak.

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  11. Frank - well done.

    Infinite focus with a lens: www.explay.co.il

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  12. Explay doesn't even claim to have infinite focus.

    Light Blue Optics does, on the other hand, with their hologram based system.

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  13. I have read that the images of explay are really faded when not shown in complete darkness. Lens or not don't matter.

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  14. Light Blue optics, explay, TI, Scram, all claim to have major interest. All are much larger form factor than MVIS and they are all begging for launch money, except for TI, If you take notice no one has near the form factor advantage of mvis. No one is close to the size of image as MVIS. No one is close to price advantage as mvis. No one has to date shown a WGA resolution image
    which MVIS is working on now with a smaller form factor than what was shown in january. Not to mention lumen output, guess who.
    MVIS. Read em and weep.

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  15. www.bmw.com/com/en/index_highend.html

    Under "Search", input "Augmented Reality Introduction". Choose the 2nd link and then see the film.

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  16. Ben...What's your take on these BMW glasses the mechanics are using? Very similar to what MVIS wanted Nomad to do. Is this why Nomad didn't make it??

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