ROCHESTER, N.Y., May 14, 2024
/PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the
"Company"), a leading supplier of smart glasses and Augmented
Reality (AR) technology and products, is pleased to announce that
the Company has signed a multi-phase development contract with
Garmin for next generation nano-imprinted waveguide-based display
system.
Under the terms of the contract, Vuzix will develop and deliver
in succession, waveguide based optical systems with full custom
projection engines, and then ultimately production units. Vuzix
capabilities around the design and development of custom waveguide
optics with volume production nano imprinting for vision based
optical systems will power solutions for Garmin that offer
significant cost, form factor, and space savings versus current
deployed technologies.
"Garmin is a technological leader and an ideal collaborator for
implementing our advanced waveguide-based solutions in numerous
markets," said Paul Travers,
President and Chief Executive Officer at Vuzix. "This development
agreement further demonstrates how effectively Vuzix, with our OEM
partners, is able to leverage the industry-leading optical
technologies and manufacturing capabilities that we have created to
support the burgeoning near eye display industry."
About Garmin Ltd.
Garmin Ltd. (NYSE: GRMN) incorporated in Switzerland, and its principal subsidiaries
are located in the United States,
Taiwan and the United Kingdom. Garmin is a registered
trademark. All other brands, product names, company names,
trademarks and service marks are the properties of their respective
owners. All rights reserved.
About Vuzix Corporation
Vuzix is a leading designer, manufacturer and marketer 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 375 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 2024 and several wireless technology innovation
awards among others. Founded in 1997, Vuzix is a public company
(NASDAQ: VUZI) with offices in: Rochester, NY; 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, the continued expansion of its smart
glasses business with this and other global retailers, their
success in deployment, future sales, continued deployments, and
their timing, 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,
Vuzix Corporation
ed_mcgregor@vuzix.com
Tel: (585) 359-5985
Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com www.vuzix.com
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SOURCE Vuzix Corporation