Microvision Signs Development Contract with Major Consumer Electronics Distributor and Manufacturer To Create Pico Projectors For Mobile Applications

Microvision Signs Development Contract with Major Consumer Electronics Distributor and Manufacturer To Create Pico Projectors For Mobile Applications

Thursday January 3, 6:00 am ET

REDMOND, Wash.--(BUSINESS WIRE)--Microvision (Nasdaq:MVIS - News), announced today that it has entered into a development agreement with one of the world’s leading distributors and manufacturers of diverse consumer electronics products. Under the agreement, the consumer electronics company will be evaluating Microvision’s advanced pico projector prototype displays for use with a variety of mobile devices including phones, laptops and personal media players. For confidentiality reasons, the name of the consumer electronics partner and terms of the agreement were not disclosed.

This is the second OEM agreement Microvision has announced to date that focuses on the development of the PicoPTM display for consumer mobility applications. PicoP is an ultra miniature display capable of projecting full color, high-resolution images and designed to be small and low power enough to be embedded directly into or attached to compact, portable consumer electronics devices, such as mobile phones, portable media players, laptops, digital cameras, camcorders and game consoles. According to the Consumer Electronics Association, the mobile electronics market in the United States alone is expected to reach $170 billion in 2008.

"One of our goals has always been to engage leaders and innovators in the markets that we plan to serve in order to create a new display paradigm for mobility users,” said Alexander Tokman, President and CEO of Microvision. “This latest agreement with a global, diversified player in the consumer electronics sector marks yet another significant milestone in the execution of our go-to-market strategy.”

“This and our other recent announcements illustrate the markets’ significant desire to bring a better viewing experience to mobile device users. Sharing photos, watching videos, and giving presentations using today’s tiny screens greatly limit everyone’s enjoyment and experience. With Microvision’s PicoP display technology, consumer electronics products will be able to project large, high resolution images from very small devices. We believe that consumers are eagerly awaiting this capability,” concluded Tokman.

About Microvision (www.microvision.com)

Microvision provides a display technology platform 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.

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