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- New CEO takes over November 2017
- Asserts change in business strategy
- Target "Tier 1s" (big companies) that can drive significant volume
- MVIS to become "solutions provider" via offering Tier 1s customization services and modules/layouts specific to customer requirements
- Solutions provider focus for Tier 1 customers stands in contrast to previous strategy described by PM as "If we build it, they will come"
- Establishes MVIS "AI at the Edge" strategy with machine learning capability at the sensor
- Establishes 5 vertical markets for MVIS
- Augmented/Mixed Reality (eyewear displays)
- Interactive Projection (smart speakers)
- Consumer LIDAR (home security)
- Automotive LIDAR (autonomous cars)
- Display Only (mobile phones et al)
- April 2018: 1440p MEMS scanner samples shipped to customers
- May 2018: LIDAR samples and Time-of-Flight ASICs delivered to customer(s)
- Time of Flight ASIC to be used in Interactive Projection and LIDAR products
- May 2018: MVIS Licenses Display Only vertical
- $10M license fee
- $3-4M NRE
- ~$20M per year minimum component purchases to maintain exclusivity
- Display Only Licensee later described by Holt:
- A major company that you would know
- Ability to produce at high volume to bring costs down
- Significant company with significant revenue and manufacturing expertise
- Technical capabilities that are needed to be successful
- May 2018: "Project Kinect for Azure" sensor module presented by MSFT CEO Satya Nadella.
- May 2018: Verticals slide presented at Ladenburg Thalman tech expo, suggests Interactive Projection for smart speakers ($$$$) contributes more than Display Only ($$$) to 2019 revenues (directionally)
- June 2018: Foxconn-Sharp announces new, brighter green lasers, smart speakers described as target application
- Samples available in August
- Mass production ready in October (500k/month target)
- July 2018 Q2 Conference Call:
- Everything is on track for multiple product launches in 2019
- Video ASIC for Interactive Display to "tape out this summer", understood to be last piece of MVIS componentry required for new Interactive Projection product platform for smart speakers
- $24M customer "advised design win" for product launching in 2019
- Will consume MVIS components in 2019 against $10M pre-pay
- Guide Q3 revenues to over $15M from Display Only license ($10M), Display Only NRE ($3M) and $24M customer NRE recognition ($2.5M)
- Sep 2018: Mulligan Presentation
- "From the people who are developing [AR/MR] solutions, they tell me that MEMS-based laser beam scanning engine is the only technology that meets the form factor, power and weight requirements to support augmented and mixed reality"
- Sep 2018: New video of Interactive Projection smart speaker application posted to MVIS website
- Sep 2018: HC Wainwright Analyst Note
- "We had understood that some large household name brands were surveying MicroVision’s technology [for smart speakers], but we think that the relationships may have taken an important step toward deeper collaboration at this juncture.”
- [Updated 9/19] Sep 2018: MVIS Northland Capital AI Call
- MVIS has successfully passed AI platform companies' scrutiny of MVIS Operations, which was has been key to enabling their described current advanced "levels of conversations."
- These conversations involve seven-figure (1M+) and eight-figure (10M+) unit volumes, because that's how these world leading AI companies define success.
- Unlike several years ago with green lasers, there are no problems with components in the supply chain that would gate MVIS from providing modules at the volumes being discussed (1-10M+ units). PM: "We are primed and ready to go"
And to add just a little bit of context, here's the Google Trends chart for "Microvision" searches in the United States going back to 2004 (coincidentally, when I started this blog).
- MVIS has very low interest or awareness compared to several years ago as measured in Google search history in US
- MVIS appears to be on track to be inside of multiple products from "household name brands" in 2019
- 2019 begins in 106 days
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