Lenovo and Kopin Form Joint Venture to Commercialize Enterprise AR Headsets
January 05 2017 - 8:30AM
Business Wire
Kopin Provides Industrial Design Solutions,
Key Components and Investment for Lenovo New Vision
Lenovo Capital and Incubator Group (LCIG), the global technology
industry fund of Lenovo Group, and Kopin Corporation (Nasdaq:
KOPN), a leading developer of innovative wearable computing
technologies and solutions, today announced they formed a joint
venture, Lenovo New Vision, a new subsidiary of LCIG. Lenovo New
Vision focuses on AR smart headsets for a broad range of enterprise
applications. Under the terms of the agreement, Kopin will provide
a small capital investment, industrial design solutions, and
know-how to utilize key Kopin components to Lenovo New Vision,
including the micro-displays, optics, software and Whisper® Voice
Chip.
LCIG President George He said, “AR/VR is the next generation
technology that will change the world after PC Internet and mobile
Internet. It is a required technology investment direction for
virtually every enterprise. We truly value the cooperation with
Kopin, and believe that this cooperation can further accelerate the
growth of the enterprise AR market by bringing users optimized
products and services.”
“We are very excited to enter into a strategic relationship with
Lenovo,” said Dr. John C.C. Fan, Kopin’s President and CEO. “By
combining Kopin’s advanced wearable technology and Lenovo’s
strength as a global IT and equipment solutions provider, both
parties can accelerate the commercialization of AR products and
succeed in the fast-growing China and global AR markets.”
About Lenovo Capital and Incubator Group
Lenovo Capital and Incubator Group is the global technology
industry fund of Lenovo Group. It supports startup companies
utilizing Lenovo global organization and resources, incubates and
invests in promising enterprises, and accelerates their growth by
leveraging Lenovo’s global resources. Serving as a bridge between
Lenovo’s internal and external innovations, LCIG focuses on
investing in core technology and Internet fields. The capital
managed by the fund in Phase II is $500 million.
About Kopin
Kopin Corporation is a leading developer and provider of
innovative wearable technologies and critical components for
integration into wearable computing systems for military,
industrial and consumer products. Kopin’s technology portfolio
includes ultra-small displays, optics, speech enhancement
technology, voice-interface and hands-free control software,
low-power ASICs, and ergonomically designed smart headset reference
systems. Kopin’s proprietary components and technology are
protected by more than 300 global patents and patents pending. For
more information, please visit Kopin’s website
at www.kopin.com.
Kopin and Whisper, are trademarks of Kopin Corporation.
Forward-Looking Statements
Statements in this press release may be considered
“forward-looking” statements under the “Safe Harbor” provisions of
the Private Securities Litigation Reform Act of 1995. These
include, without limitation, statements relating to the
expectations that AR/VR is the next generation technology that will
change the world after PC Internet and mobile Internet; that AR/VR
is a required technology investment direction for virtually every
enterprise; the belief that this cooperation can further accelerate
the growth of the enterprise AR market by bringing users optimized
products and services; and our belief that by combining Kopin’s
advanced wearable technology and Lenovo’s strength as a global IT
and equipment solutions provider, both parties can accelerate the
commercialization of AR products and succeed in the fast-growing
China and global AR markets. These statements involve a number of
risks and uncertainties that could cause actual results to differ
materially from those expressed in the forward-looking statements.
These risks and uncertainties include, but are not limited to, the
following: the market place may not accept AR/VR products: the
AR/VR products the market place accepts may not be those produced
by Lenovo New Vision; the AR/VR products the market place accepts
may not include products designed and or manufactured by the
Company; the cooperation between the Company and Lenovo New Vision
may not accelerate or have any impact of the growth of the
enterprise AR market; combining the Company’s advanced wearable
technology and Lenovo’s strength as a global IT and equipment
solutions provider may not accelerate the commercialization of AR
products and succeed in the fast-growing China and global AR
markets; it may take longer than the Company estimates to develop
products; the Company’s products may not be accepted by the
market place; there may be issues that prevent the adoption or
further development of the Company’s wearable computing
technologies; manufacturing, marketing or other issues may
prevent either the adoption or acceptance of products; the Company
might be adversely affected by competitive products and pricing;
new product initiatives and other research and development efforts
may be unsuccessful; the Company could experience the loss of
significant customers; costs to produce the Company’s products
might increase significantly, or yields could decline; the
Company’s customers might be unable to ramp production volumes of
their products, manufacturing delays, technical issues, economic
conditions or external factors may prevent the Company from
achieving its goals; and other risk factors and cautionary
statements listed in the Company’s periodic reports and
registration statements filed with the Securities and Exchange
Commission, including the Annual Report on Form 10-K for the 12
months ended December 26, 2015, and the Company’s subsequent
filings with the Securities and Exchange Commission. You
should not place undue reliance on any forward-looking statements,
which are based only on information currently available to the
Company and only as of the date on which they are made. The Company
undertakes no obligation to update any of these forward-looking
statements to reflect events or circumstances occurring after the
date of this release.
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version on businesswire.com: http://www.businesswire.com/news/home/20170105005582/en/
For Product Information:Kopin CorportionPaul Baker,
508-870-5959VP Business Developmentpbaker@kopin.comorKopin (HK)
LimitedKenny Cheung,
852-2607-4151Kenny_cheung@kopin.com.hkorFor Investor RelationsKopin
CorporationRichard
Sneider, 508-870-5959Treasurer and Chief Financial
Officerrsneider@kopin.comorMarket Street PartnersJoann
Horne, 415-445-3233JHorne@marketstreetpartners.com
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