Site Network: Home |

Microvision Announces $750,000 Contract for High-Definition Eyewear Display Solution Development

REDMOND, Wash.--(BUSINESS WIRE)--Microvision, Inc. (NASDAQ: MVIS - News), a global leader in innovative ultra-miniature projection display and imaging products today announced that it has been awarded a $750,000 contract to perform initial engineering tasks that support development of a High-Definition (HD), full-color, see-through eyewear display. The name of the customer was not released for confidentiality reasons.

The development effort includes demonstration of a unique design approach of a HD system based upon Microvision’s PicoP display engine technology. The work under the contract is consistent with Microvision’s continued development of a lightweight see-through optical system and could lead to a variety of eyewear display applications.

Microvision’s eyewear display platform is being designed to combine its miniature PicoP display engine technology with clear eyewear optics that channel light and direct it to the viewer’s eye creating a bright, full color, see-through image while maintaining a transparent view of the surroundings. In addition to the see-through capability, this platform is expected to be differentiated from competitive offerings by its attractive ergonomics and ease-of-use.

“Customers are seeking new ways to deliver real-time, mission critical information,” stated Ian Brown, Microvision VP of Marketing and Sales. “We believe Microvision’s PicoP-enabled eyewear technology could provide competitive advantages for these customers due to its inherent qualities of high-brightness, compact form-factor, full-color and see-through clarity.”

About Microvision
Microvision provides the PicoP display technology platform designed to enable next-generation display and imaging products for Pico projectors, vehicle displays, and wearable displays that interface with mobile devices. The company also manufactures and sells its bar code scanner product line which features the company's proprietary MEMS technology.

Forward Looking Statement

Certain statements contained in this release, including those relating to product development, potential product benefits, and statements using words such as “expect”, “could” and "believe," 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: capital market risks, our ability to raise additional capital when needed; 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, risks related to Lumera's business and the market for its equity and other risk factors identified from time to time in the company's SEC reports and other filings, 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.


At December 12, 2008 at 3:51 AM Molly said...

Very nice sir!

Best of health to you and yours this holiday.


At December 14, 2008 at 9:31 AM Jonathan said...

I'm guessing this kind of technology is about 10 years away.

At December 15, 2008 at 9:01 PM Kevin said...

Jonathan, if you think of how the technology (MEMS laser scanning, etc.) has advanced in the LAST 10 years, do you really think it'll take another 10 years to get it out to market? I've been predicting (since 2001) industry-wide introduction in 2011, with a billion Color Eyewear type "EyePhones" worldwide by 2015. Probably a bit optimistic, but what do you think, Ben?

At December 15, 2008 at 9:22 PM Ben said...

Kevin --

Sounds about right to me. Our strategy is to launch eyewear in the military segment first to support high-value safety and situational awareness applications. With the right partnerships, content and infrastructure in place we will then attack consumer markets and hopefully approach the numbers you describe.



Post a Comment

This website does not recommend the purchase or sale of any stocks, options, bonds or any investment of any kind. This website does not provide investment advice. Disclaimer and Notices: Disclaimer: This website may contain "forward-looking" information including statements concerning the company's outlook for the future, as well as other statements of beliefs, future plans and strategies or anticipated events, and similar expressions concerning matters that are not historical facts. The forward-looking information and statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, the statements. The information on this website includes forward looking statements, including statements regarding projections of future operations, product applications, development and production, future benefits of contractual arrangements, growth in demand, as well as statements containing words like believe, estimate, expect, anticipate, target, plan, will, could, would, and other similar expressions. These statements are not guarantees of future performance. Actual results could differ materially from the results implied or expressed in the forward looking statement. Additional information concerning factors that could cause actual results to differ materially from those in the forward looking statements are included in MVIS most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission under the heading 'Risk factors related to the company's business,' and our other reports filed with the Comission from time to time. Except as expressly required by Federal securities laws, MVIS Blog undertakes no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events, changes in circumstances, or other reasons. Legal Notice: Although considerable care has been taken in preparing and maintaining the information and material contained on this website, MVIS Blog makes no representation nor gives any warranty as to the currency, completeness, accuracy or correctness of any of the elements contained herein. Facts and information contained in the website are believed to be accurate at the time of posting. However, information may be superseded by subsequent disclosure, and changes may be made at any time without prior notice. MVIS Blog shall not be responsible for, or liable in respect of, any damage, direct or indirect, or of any nature whatsoever, resulting from the use of the information contained herein. While the information contained herein has been obtained from sources believed to be reliable, its accuracy and completeness cannot be guaranteed. MVIS Blog has not independently verified the facts, assumptions, and estimates contained on this website. Accordingly, no representation or warranty, express or implied, is made as to, and no reliance should be placed on the fairness, accuracy, or completeness of the information and opinions contained on this website. Consequently, MVIS Blog assumes no liability for the accompanying information, which is being provided to you solely for evaluation and general information. This website does not contain inside information, proprietary or confidential information learned or disclosed as part of employment relationships or under nondisclosure agreements or otherwise.