Vuzix Confirms that it has Entered into a Joint Manufacturing and Supply Agreement with Jade Bird Display for MicroLED-Based Display Engine and Waveguide Products
- World's smallest microLED based projection engine combined with Vuzix ultrathin waveguides supports industry-leading solutions for Vuzix and our third-party OEMs
ROCHESTER, N.Y., Jan. 11, 2021 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, confirmed today as part of its other CES new product announcements around its next generation smart glasses (NGSG) that it has entered into a multi-year agreement with Jade Bird Display, a Shanghai-based leader in microLED displays, to collaborate on the co-development and cross-supply of solutions incorporating superbright microLED display engines and Vuzix waveguides. Under the agreement, Jade Bird Display will provide microLED displays and Vuzix will provide newly developed proprietary waveguides and display engine optics to work with these displays. The complete solutions and components will be sold by both Vuzix and JBD to their customers, and both parties have agreed to supply to each other on a priority allocation basis, subject to limitations to ensure Vuzix is able to satisfy its own branded product requirements. Both monochrome and RGB microLED display solutions are actively being developed for use by Vuzix in its NGSG products and for JBD customers. These solutions are expected to be the world's smallest microLED display engines when commercially released and will utilize Vuzix latest "monolithic" single layer waveguides, with both glass and plastic options expected to be available.
For these next generation products, the entire microLED engine (monochrome and RGB), consisting of a microLED panel, backplane and coupling projector for pairing with a waveguide, is measuring together as small as the cubic size of a pencil eraser and should allow next generation AR Smart Glasses to have a virtually indistinguishable look and feel from normal eyeglasses. These solutions are being developed for Smart Glasses as well as for sighting systems, simple viewfinders, and just about any near-eye device that needs a low power and high-resolution display.
"We are very pleased to collaborate and have this joint-supply relationship with Vuzix, who is a longtime leader in optics, display technology and augmented reality products that are a perfect fit to operate with JBD's unique microLED technology," said Dr. Qiming Li, CEO & founder of Jade Bird Display. "Vuzix and Jade Bird are respective industry leaders, and we look forward to a long and strong partnership with Vuzix."
"We are very excited about our collaboration with Jade Bird Display, who has demonstrated leading highly efficient microLED technology and production capabilities in microLED displays. This relationship with Jade Bird advances Vuzix' products and serves to further our leadership position in the supply of next generation waveguides and display engine technologies and also supports and helps to grow JBD's markets with fully functional solutions that each of us can sell," said Paul Travers, President and CEO of Vuzix. "We look forward to showing these solutions to the world and seeing them in action come the second half of 2021."
To register and learn more information regarding Vuzix next generation smart glasses you can visit our website https://www.vuzix.com/technology/next-gen and YouTube for the latest next generation smart glasses tech specs https://youtu.be/XabpNlxq0oQ.
Registered attendees, media or exhibitors who want to learn more during digital CES are invited join us at our virtual booth at: https://digital.ces.tech/exhibitor/0ad7a70b-2a29-4303-a3aa-b50602843d19
About Jade Bird Display (JBD)
Founded in 2015, JBD has been focusing on developing the smallest, brightest, and most efficient micro-display panels. With a manufacturing facility established in Shanghai, China, JBD is considered one of the leaders in microLED display technologies with its portfolio of active matrix microLED displays. For more information, visit JBD's website, LinkedIn or Twitter pages.
About Vuzix Corporation
Vuzix is a leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company's products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 184 patents and patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2021 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, and Tokyo, Japan. For more information, visit 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 our existing relationship with Jade Bird Display, future business together and its success, the timing of when these solutions will be available, 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.
Media and Investor Relations Contact:
Ed McGregor, Director of Investor Relations
Tel: (585) 359-5985
Vuzix Corporation, 25 Hendrix Road, Suite A, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com www.vuzix.com
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SOURCE Vuzix Corporation
Released January 11, 2021