Vuzix CEO provides virtual investor presentation update on business and smart glasses trends
Sees the COVID-19 Pandemic Continuing to Drive Broad User Demand for Smart Glasses
Growing usage is notably evident across remote support, telemedicine and educational applications
ROCHESTER, N.Y., June 12, 2020 /PRNewswire/ -- Vuzix Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, continues to in its current operating quarter see expanding adoption of smart glasses as more and more corporations, medical facilities and universities turn to them to meet the logistical challenges resulting from the coronavirus pandemic. Vuzix CEO Paul Travers recently discussed this trend during a virtual investor presentation at the Money Show virtual event yesterday which can be accessed here.
Travel restrictions are fueling demand for remote support and reports of notable use cases continue to drive expanding industry awareness. An article that recently appeared in the Wall Street Journal, available here, discussed how Intel faced a chip production slowdown just as demand was surging, but was unable to fly their expert in to solve the problem due to global travel restrictions. With the use of smart glasses, the expert was able to remotely walk his on-site counterparts through the repair process and get production up and running. Vuzix remains well positioned to address remote support demand with competitive solutions and broad application platform support.
Vuzix' Smart Glasses technology is already being used worldwide for telemedicine applications, including remote healthcare support and training, by leading medical institutions such as John Hopkins Medicine and the University of Louisville School of Medicine. Leading universities, such as UCLA, have also started using Vuzix smart glasses as an excellent additive tool to leverage education, training, and participation from students attending classes remotely.
"The innovation smart glasses bring lies in putting information in the users' line of vision—hands-free, when and as they need it. These functions, including the depth and scope of knowledge, can be included with the right software infrastructure with already existing applications like Zoom or WebEx teams using Vuzix connectors or with custom applications that Vuzix also supplies like Vuzix Remote Assist. These SaaS based solutions make Vuzix Smart Glasses an indispensable tool," commented Paul Travers, Chief Executive Officer of Vuzix. "We have already announced numerous customer engagements for our smart glasses across remote support, telemedicine and education and expect many more announcements will be forthcoming over the balance of this year."
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 157 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 2020 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 to the current growing demand for the Company's smart glasses products and whether it will continue, our relationships with John Hopkins Medicine, The University of Louisville School of Medicine and UCLA 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, Vuzix Corporation firstname.lastname@example.org 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 June 12, 2020