MicroVision and WPG Holdings, the Number One Global Semiconductor Distributor, Enter Distribution Agreement for Asia
September 13 2017 - 9:00AM
Business Wire
MicroVision, Inc. (NASDAQ: MVIS), a leader in innovative
ultra-miniature projection display and sensing technology, and WPG
Holdings (TSE: 3702) (WPG), the largest distributor of
semiconductor components in Asia, today announced that they have
entered into an agreement for distribution of MicroVision’s line of
PicoP® scanning engines across Asia.
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WPG will distribute MicroVision’s engine products in China,
Taiwan, Japan, Korea, India and Southeast Asia through its
subsidiaries AIT Group, WPG Korea and South Asia. MicroVision has
announced its plans to have three different PicoP scanning engines
in the market in 2017 and 2018: the first engine is available now
for applications that benefit from a small form factor display
engine; the second engine, for which development kits began
sampling this quarter, combines projected display with an
interactive user interface that mimics the familiar touch screen of
a smartphone or tablet; the third engine is a 3D sensing solution
for mid-range LiDAR, and samples are expected to be available in
the first half of 2018.
“We are intrigued by the different scanning engine products
MicroVision is developing and impressed with the capabilities of
PicoP® scanning technology to support multiple applications from a
common technology platform,” said Frank Yeh, Chief Executive
Officer of WPG. “We see great potential with this product line and
are looking forward to introducing this ground breaking technology
to our customers across Asia.”
“Bringing new technology to market requires strong partners, and
WPG and its subsidiaries have the leadership, regional presence and
demonstrated service level we were seeking in a distributor,” said
Alexander Tokman, President and Chief Executive Officer of
MicroVision. “As the number one semiconductor distributor in Asia
with trans-national services and established customer relationships
across the Asia region, this partnership with WPG can help us grow
the market for our PicoP® scanning engines.”
WPG and its subsidiaries will provide sales and marketing and
technical support as well as distribution services. The agreement
is effective immediately.
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.
About WPG
WPG Holdings is the number 1* global semiconductor distributor
and the largest electronics distributor in Asia, with headquarters
in Taipei, Taiwan (TSE:3702). WPG Holdings, operating through four
leading semiconductor components distributors (WPIg, SACg, AITg,
and YOSUNg), serves as a franchise partner for nearly 250
world-wide suppliers. With 5,100 staff in about 71 IED and 34
Non-IED sales offices around the world (about 43 IED & 34
Non-IED in Greater China and Asia Pacific region), WPG Holdings
achieved US$16.65 billion in 2016 revenue. (*Source: Ranked No. 1
by Gartner Research Mar. 2016.)
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/20170913005414/en/
MicroVisionInvestors:Dawn Goetter,
425-882-6629ir@microvision.comorMedia:Heather Hewit,
732-212-0823heatherh@lotus823.comorWPG HoldingsWPG MarCom,
886-2-8797 8860marcom@wpgholdings.comorAIT Group Taiwan, 886-2-2656
3868microvision.tw@aitgroup.com.twAIT Group China, 86-21-2309
9388microvision.cn@aitgroup.com.cnorAIT Group Japan, 81-3-6744
2555microvision.jp@aitgroup.com.tworWPG Korea, 82-2-425
2800sales@kr.WPGholdings.comorWPG South Asia, 65-6282
5188marcom@wpgholdings.com
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