ROCHESTER, N.Y., Aug. 31, 2016 /PRNewswire/ -- Vuzix®
Corporation (NASDAQ: VUZI), a leading supplier of Smart Glasses,
Augmented Reality (AR) and Virtual Reality (VR) technologies and
products for the consumer and enterprise markets, is pleased to
announce that the Company's M100 and next generation M300 Smart
Glasses will be key components of DHL's global AR program. DHL is
one of the world's largest logistics companies.
In 2016, the Ubimax vision picking X-Pick software
solution was successfully implemented with Vuzix M100 Smart Glasses
to deliver effective solutions to customers internationally,
including DHL. DHL's well documented pilot program drove a 25%
increase in efficiency using this solution. DHL has subsequently
moved towards broader implementation at additional
sites. Vuzix will participate in the global roll-out of DHL's
expanded pilot programs for vision picking, as DHL Supply Chain
expands its vision picking program over the next six months across
different industries. The initial expansion phase will focus in
the United States, Europe and the United Kingdom.
Pickers are equipped with Vuzix Smart Glasses that visually
display where each picked item needs to be placed on the trolley.
Vision Picking enables hands free order picking at a faster pace,
along with reduced error rates. Throughout 2016, the smart glasses
will be piloted across various industries such as technology,
retail, consumer and automotive industries. The data available from
these pilots will further determine the technology's potential for
even broader implementation. The sites are spread across
the United States, Mainland Europe
and the United Kingdom, with the
Ricoh facility in Bergen op Zoom, the
Netherlands, where the solution was first tested, being the
launch site for this new phase.
AR is a market with exceptional growth potential. The AR and VR
market is said to be the next big thing after smartphones, although
estimates vary significantly. Goldman Sachs estimates a base case
of $80 billion for both virtual and
augmented reality by 2025, while M&A advisory firm Digi-Capital
predicts a total volume of $150
billion by 2020. The current success of mobile app Pokémon
Go reflects the market potential, as are 225 venture capital
investments worth $3.5 billion made
in AR / VR over the last two years.
DHL Supply Chain will be one of the first companies to widely
implement the technology into their operations. The initial 2014
test in the Netherlands showed a
significant increase in productivity, reduced error rates and
overall rise in employee satisfaction, proving that augmented
reality can make an impactful difference in reality. The following
video highlights the use of smart glasses in improving
efficiency in warehouse applications:
https://www.youtube.com/watch?v=I8vYrAUb0BQ.
"DHL will be expanding into further programs with the M300
following the strong productivity improvements they were able to
achieve with the M100. We expect that these efforts, moving to the
M300, will see even stronger ROIs and translate into productive
implementation," said Paul Travers,
President and Chief Executive Officer at Vuzix.
"The Vision Picking Program is DHL Supply Chain's first
translation of what augmented reality solutions can look like for
supply chains. The broad spectrum in which the technology can be
applied across various sectors is exciting to us, and the potential
of this technology for business is still largely untapped. We
believe this program is a game changer in how we run our supply
chain operations and deliver added value to our customers," states
Markus Voss, CIO Supply Chain.
About Vuzix Corporation
Vuzix is a leading supplier of
Smart-Glasses, Augmented Reality (AR) and Virtual Reality (VR)
technologies and products for the consumer and enterprise markets.
The Company's products include personal display and wearable
computing devices that offer users a portable high quality viewing
experience, provide solutions for mobility, wearable displays and
virtual and augmented reality. Vuzix holds 43 patents and 23
additional patents pending and numerous IP licenses in the Video
Eyewear field. The Company has won Consumer Electronics Show (or
CES) awards for innovation for the years 2005 to 2016 and several
wireless technology innovation awards among others. Founded in
1997, Vuzix is a public company (NASDAQ: VUZI) with offices in
Rochester, NY, Oxford, UK and Tokyo, Japan.
Forward-Looking Statements Disclaimer
Certain
statements contained in this news release are "forward-looking
statements" within the meaning of the Securities Litigation Reform
Act of 1995 and applicable Canadian securities laws. Forward
looking statements contained in this release relate to, among other
things, the success and impact of the DHL programs with the M100
and M300 smart glasses, and the Company's leadership in the Video
Eyewear, VR and AR display industry. They are generally identified
by words such as "believes," "may," "expects," "anticipates,"
"should" and similar expressions. Readers should not place undue
reliance on such forward-looking statements, which are based upon
the Company's beliefs and assumptions as of the date of this
release. The Company's actual results could differ materially due
to risk factors and other items described in more detail in the
"Risk Factors" section of the Company's Annual Reports and MD&A
filed with the United States Securities and Exchange Commission and
applicable Canadian securities regulators (copies of which may be
obtained at www.sedar.com or www.sec.gov). Subsequent events and
developments may cause these forward-looking statements to change.
The Company specifically disclaims any obligation or intention to
update or revise these forward-looking statements as a result of
changed events or circumstances that occur after the date of this
release, except as required by applicable law.
Investor and Media Relations Contact:
Andrew
Haag
Managing Partner
IRTH
Communications
vuzi@irthcommunications.com
1-866-976-4784
Vuzix Corporation
25 Hendrix Road, Suite A
West Henrietta, NY 14586 USA
Investor Information – Grant
Russell
IR@Vuzix.com
Tel: (585) 359-7562
www.vuzix.com
For further sales, and product information, please
visit:
North
America:
http://www.vuzix.com/contact/
Europe/UK:
https://www.vuzix.eu/contact/
Asia:
http://www.vuzix.jp/contact.html
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SOURCE Vuzix Corporation