ROCHESTER, N.Y., June 14,
2023 /PRNewswire/ -- Vuzix®
Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a
leading supplier of Smart Glasses and Augmented Reality (AR)
technology and products, today announced that it has entered into a
distribution agreement with ASK Corporation ("ASK"), a Tokyo-based leading distributor providing
products, services and solutions to consumer, commercial, and
professional users of IT equipment. Vuzix has received and is now
shipping against a large volume purchase order from ASK, who will
distribute Vuzix products to its customers across Japan. The agreement marks a significant
milestone in the advancement of AR technology and its widespread
adoption in Japan.
The distribution partnership aims to capitalize on the
increasing demand for innovative AR solutions across various
industries, such as healthcare, manufacturing, retail, and more in
Japan. ASK will leverage its
extensive industry expertise and market reach to grow Vuzix
business in Japan by:
Collaborating with Existing Vuzix Partners: ASK
will work closely with Vuzix' current channel and technology
partners in Japan to strengthen
relationships and enhance the distribution network. By leveraging
these established connections, ASK will maximize the availability
and accessibility of Vuzix' cutting-edge AR glasses technology to
customers across the country.
Enhancing Brand Presence and Market Salience:
ASK will focus on strengthening the brand presence of Vuzix AR
solutions in Japan. Through
strategic marketing initiatives, ASK will raise awareness of the
immense value and practical applications of AR technology. By
showcasing the potential of AR, both companies aim to inspire
industries and consumers to embrace this transformative
technology.
Uncovering Untapped Business Opportunities: ASK
will actively pursue untapped business opportunities to generate
revenue and drive market expansion for Vuzix in Japan. Through thorough market research and a
deep understanding of customer needs, ASK will identify unexplored
sectors and develop tailored AR solutions that provide significant
business benefits.
Kazuhiko Muto, CEO of ASK
Corporation, expressed his enthusiasm for the partnership, stating,
"We believe that the innovative and practical use of AR
technologies in Japan will greatly
contribute to Vuzix' position as the market leader. ASK Corporation
is fully committed to promoting Vuzix' cutting-edge AR glasses
technology, fostering its adoption, and unlocking its immense
potential across various industries."
"We are thrilled to be partnering with ASK, a leading
distributor that is well positioned to provide us with new and
diverse distribution opportunities in a high demand region," said
Paul Travers, President and CEO of
Vuzix. "By combining Vuzix' world-class AR glasses technology with
ASK's market expertise and distribution capabilities, this
agreement will help revolutionize the way people interact with
technology in Japan."
About ASK Corporation
ASK Corporation, headquartered in Tokyo, Japan, is a leading distributor
providing products, services, and solutions to consumer,
commercial, and professional users of IT peripherals, mobile
electronics, high-end audio, enterprise computing solutions, and
professional videography equipment. Providing real solutions to
real market needs as a trusted "full-service" partner, ASK
Corporation, since its inception in 1997, differentiates itself
with an unwavering commitment and dedication to providing
end-to-end services to vendor suppliers, channel resellers, and
end-users - from the pre-sales market research to customer-centric
technical support - to establish and grow vendor brands with years
of industry segment market knowledge, an exceptional array of
accessible channel partners, productive and relationship-minded
sales force, and innovative marketing strategies. ASK Corporation
partners with a multitude of top-tier technology vendors, primarily
based in North America,
Europe, and Taiwan.
About Vuzix Corporation
Vuzix is a leading designer, manufacturer and marketer of Smart
Glasses and Augmented Reality (AR) technologies and products for
the enterprise, medical, defense and consumer markets. The
Company's products include head-mounted smart personal display and
wearable computing devices that offer users a portable high-quality
viewing experience, provide solutions for mobility, wearable
displays and augmented reality, as well OEM waveguide optical
components and display engines. Vuzix holds more than 300 patents
and patents pending and numerous IP licenses in the fields of
optics, head-mounted displays, and augmented reality Video Eyewear
field. Moviynt, an SAP Certified ERP SaaS logistics solution
provider, is a Vuzix wholly owned subsidiary. The Company has won
Consumer Electronics Show (or CES) awards for innovation for the
years 2005 to 2023 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; Munich,
Germany; and Kyoto and
Tokyo, Japan. For more
information, visit the Vuzix website, Twitter and Facebook
pages.
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 Vuzix Smart Glasses, our business relationship and future
opportunities with ASK Corporation and its customers, and among
other things the Company's leadership in the Smart Glasses 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.
Vuzix Media and Investor Relations Contact:
Ed McGregor, Director of Investor
Relations,
Vuzix Corporation
ed_mcgregor@vuzix.com
Tel: (585) 359-5985
Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com www.vuzix.com
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SOURCE Vuzix Corporation