MicroVision Ships Initial Production Display Engines to Asian Electronics Device Manufacturer
June 27 2017 - 9:00AM
Business Wire
Company expects volume shipments to commence in
July 2017
MicroVision, Inc. (NASDAQ: MVIS), a leader in innovative
ultra-miniature projection display and sensing technology, today
announced that it reached its production readiness milestone
on-schedule and has begun shipments of its small form factor
display engine to its customer, an Asian electronics device
manufacturer.
The engines in this initial shipment to the Asian OEM are part
of a $6.7 million order for a customized display engine,
PSE-0403-103, to be embedded in a smartphone. MicroVision plans to
begin volume shipments in July, and expects a large majority of the
units in this order to be shipped by the end of 2017.
For its smartphone design, the customer required an electronics
board layout that varied from the standard form of MicroVision’s
PSE-0403-101 display engine. MicroVision was able to quickly design
an engine that met the customer’s requirements and could be
manufactured by MicroVision’s supply chain partner. This module,
PSE-0403-103, uses the same MEMS and ASICS1 components as the
standard MicroVision PSE-0403-101 engine and has the same
performance characteristics including an always-in-focus, high
definition image from a small, low power engine. The flexibility to
meet customers’ specific design requirements for an engine product
is a benefit of working with MicroVision and the company’s PicoP®
scanning technology platform.
1 Micro-electrical mechanical systems (MEMS) and
Application-specific integrated circuits (ASICS)
About MicroVision
MicroVision is the creator of PicoP® scanning technology, an
ultra-miniature laser projection and sensing solution based on the
laser beam scanning methodology pioneered by the company.
MicroVision's platform approach for this advanced display and
sensing solution means that it can be adapted to a wide array of
applications and form factors. It is an advanced solution for a
rapidly evolving, always-on world. MicroVision’s business model and
product line offering includes display and sensing engines,
licensing its patented technology and selling components to
licensees for incorporation into their scanning engines.
Extensive research has led MicroVision to become an
independently recognized leader in the development of intellectual
property. MicroVision’s IP portfolio has been recognized by the
Patent Board as a top 50 IP portfolio among global industrial
companies and has been included in the Ocean Tomo 300 Patent Index.
The company is based in Redmond, Wash.
For more information, visit the company’s website at
www.microvision.com, on Facebook at www.facebook.com/MicroVisionInc
or follow MicroVision on Twitter at @MicroVision.
MicroVision and PicoP are trademarks of MicroVision, Inc. in the
United States and other countries. All other trademarks are the
properties of their respective owners.
Forward-Looking Statements
Certain statements contained in this release, including those
using words such as plans, expects or similar words and those
relating to shipping schedules, future product and product
applications 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: our ability to
raise additional capital when needed; products incorporating our
PicoP® scanning technology may not achieve market acceptance,
commercial partners may not perform under agreements as
anticipated, we may be unsuccessful in identifying parties
interested in paying any amounts or amounts we deem desirable for
the purchase or license of IP assets, our or our customers failure
to perform under open purchase orders; our financial and technical
resources relative to those of our competitors; our ability to keep
up with rapid technological change; 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; and other risk factors
identified from time to time in the company's SEC reports,
including the company's Annual Report on Form 10-K filed with the
SEC. Except as expressly required by 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170627005098/en/
MicroVisionDawn Goetter,
425-882-6629(investors)ir@microvision.com,orHeather Hewit,
732-212-0823(media)heatherh@lotus823.com,
Microvision (NASDAQ:MVIS)
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