Microvision Secures Global Consumer Electronics OEM To Private-Label Laser Pico Projector
REDMOND, Wash.--(BUSINESS WIRE)-- Microvision, Inc. (NASDAQ:MVIS), a global leader in innovative ultra-miniature projection display and image-capture products for mobility applications, announced today that it has secured an initial purchase order for a global consumer electronics OEM to private-label its PicoP(R) display engine-based accessory laser pico projector. This purchase order is tied to a marketing and distribution agreement Microvision announced recently with an Asian distribution partner who also has purchased Microvision's branded product, the SHOWWX(TM), for distribution within the Asia-Pacific region. (See Microvision press release, "Microvision Receives Purchase Order and Begins Shipping World's First Laser Pico Projector, SHOWWX," September 30, 2009.) The Asian distribution partner and global consumer electronics OEM are both planning their own marketing launch activities and will provide specific details regarding timing and locations for initial product availability in the near future. Microvision has begun shipping units to fulfill both customers.
"We are extremely pleased to receive our first purchase order to private label the PicoP based accessory laser pico projector," said Alexander Tokman, President and CEO of Microvision. "Having a global consumer electronics player, which is targeting a new mobile communication device strategy, attach their name to our product strongly validates the performance and quality of our first laser projector offering. On the heels of announcing our first shipments of the SHOWWX laser pico projector, and receiving the purchase order from an international distributor, this is another significant milestone in our go-to-market strategy."
Microvision's SHOWWX Laser Pico Projector, uses the revolutionary PicoP display engine that delivers colorful, vivid, large images that create a truly "big screen" viewing experience from a device about the size of a mobile phone. The SHOWWX can project images from 12" to 150" inches across, depending on the ambient lightning conditions, without the user ever having to adjust focus. This pico projector is a simple plug-n-play device for people on-the-go who want to spontaneously view and share multimedia applications and programs such as mobile TV, movies, photos, user-generated content such as YouTube(TM), presentations and more with their friends, family or business associates. Users can seamlessly plug Microvision's pocket-sized pico projector into their portable media players, mobile phones, notebooks and other portable mobile media devices with TV-Out or VGA functionality.
About Microvision, Inc.
Microvision provides the PicoP display technology platform designed to enable next-generation display and imaging products for pico projectors, vehicle displays, and wearable displays that interface with mobile devices. The company's projection display engine uses highly efficient laser light sources which can create vivid images with high contrast and brightness. For more information, visit the company's website (www.microvision.com) and corporate blog (www.microvision.com/displayground).
Forward-Looking Statements Disclaimer
Certain statements contained in this release, including those relating to product applications, future distribution and market opportunity, 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; the risk of market acceptance of our technology and products, our financial and technical resources relative to those of our competitors; our planned future products dependence on advances in technology by other companies, our ability to keep up with rapid technological change; our ability to enforce our intellectual property rights and protect our proprietary technologies; the timing of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products; our ability to secure needed third party manufacturing and sales resources, 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 the 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.
Source: Microvision, Inc.
Released October 8, 2009