REDMOND, Wash.–(Business Wire)–
Microvision (NASDAQ:MVIS), a leading developer of ultra-miniature projection
display products, announced today that it has received an $8.5 million purchase
order for its new ultra-miniature PicoP laser projection display engine from a
consumer electronics customer. The OEM plans to embed the PicoP engine inside a
high-end mobile media player for release in late 2010 and plans to announce its
launch at that time.
Microvision recently announced the completion and shipment of initial samples of
its new display engine that incorporates a proprietary ASIC chipset half the
original size and weight and that consumes one third less power than its
predecessor while delivering uniformly bright, vivid color WVGA (848 X 480)
images up to 200 inches. It also provides a 5000:1 contrast ratio – 5 times
greater than other pico projector engines in the market today and is always in
focus without the need for focusing dials or optics – an especially desirable
benefit for mobile consumers.
“We are very pleased to receive the first purchase order for our new display
engine,” said Alexander Tokman, President and CEO of Microvision. “This embedded
application in a high-end mobile media player is part of our strategy to develop
multiple premium distribution channels as we continue to advance the PicoP
engine design and mature production capacity to meet anticipated demand across a
variety of consumer electronic products including handsets.”
About Microvision (www.microvision.com)
Microvision provides the PicoP display technology platform designed to enable
next-generation display and imaging products for pico projectors, vehicles
displays, and wearable displays that interface to 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 OEM
new product introduction 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; 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; and 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.
Microvision
Media:
Matt Nichols, 206-940-4318
or
Maria Vetrano, 617-876-2770
or
Investors:
Tiffany Bradford, 425-936-6847
or
Linda Decker, 212-564-4700
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