Vuzix Receives Follow-On Volume Smart Glasses Order from Xpertinc to Support Expanding Customer Demand
ROCHESTER, N.Y., April 28, 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 received a follow-on volume order for smart glasses from Korean distributor Xpertinc Co., Ltd. ("Xpertinc").
Since its establishment in 2019, Xpertinc has been supplying Vuzix smart glasses and optimal related solutions to lead the industrial and personal wearable markets. As a result, it has grown into Korea's representative smart glasses total solution company and is contributing to revitalizing their domestic market by servicing the highest quality products and solutions to various industries and individuals.
Separately, Xpertinc continues to develop its C-Sound solution, an auxiliary engineering device that converts voice into text and expresses it in real time on Vuzix Blade smart glasses to assist deaf and hearing-impaired people who cannot hear sound to have conversations. Xpertinc is also developing a hybrid model with embedded types that can be used in locations where Internet environments are weak or non-existent.
"Through our expanding relationships with key distributors such as Xpertinc, we continue to see numerous companies across a growing number of industry verticals turning to smart glasses and embracing Vuzix solutions in particular," said Paul Travers, President and CEO of Vuzix. "The proven productivity improvements and other benefits Vuzix smart glasses offer should remain a driving force for the accelerating adoption of these products."
About Vuzix Corporation
Vuzix is a leading supplier 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 Xpertinc 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,
Tel: (585) 359-5985
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SOURCE Vuzix Corporation
Released April 28, 2023