MicroVision,
Inc. (NASDAQ: MVIS), a leader in innovative ultra-miniature
projection display technology, today announced it is supplying multiple
prototype Scanned Engine Subsystems (SES) to a leading global Tier-One
automotive supplier (Tier-1), an important milestone in the multi-phased
design win process for the Tier-1’s embedded Head Up Display (HUD)
application. The SES systems will be part of the Tier-1’s reliability
testing and characterization for potential use of PicoP® display
technology in an embedded HUD application for at least one major
automotive OEM. The order includes engineering services along with the
prototype systems.
Rigorous evaluation and testing are integral elements in the process
automotive suppliers follow to qualify components for inclusion in
production automotive systems, in this case an embedded HUD. This Tier-1
supplier purchased multiple automotive PicoP® Evaluation Kits
from MicroVision in Q3 and Q4 of 2012 as part of its overall,
comprehensive evaluation process. Moving to the reliability testing
phase of the program is a precursor to further development and
commercialization activities. Delivery of the units and commencement of
acceptance testing are expected before the end of the year.
MicroVision’s HUD system based on patented PicoP® display
technology offers many advantages, including:
-
High contrast that produces a clear see-through display with no
background color. For night driving there is no background “glow”
resulting in clear visibility of the projected information.
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High brightness, brilliant colors and a wide color gamut that enhance
HUD information in varied natural backgrounds and in daytime lighting
conditions.
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Ability to create an augmented reality display that presents
information as if it is floating several feet in front of the driver.
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Efficiency and power savings as a result of pixel-by-pixel modulation
that produces light only when needed.
-
Small form factor for flexibility in embedded installation.
Discussing the growing
HUD market, Ben Scott, technology solutions analyst for IHS
Automotive, noted, “Projecting an image that floats about 2.5 meters, or
7.5 feet, in front of motorists’ eyes, HUDs are the optimal display
technology for cars—with studies having shown that this distance
delivers the fastest response time for viewers. Apart from showing speed
and warning signals, HUDs are perfectly suited for displaying navigation
information or advanced driver assistance system (ADAS) data, allowing
drivers to access critical material while keeping their eyes on the
road.” According to a recent
report from IHS Automotive, the leading provider of comprehensive
content, expertise and insight on the global automotive industry,
worldwide sales of cars equipped with HUDs are set to expand by more
than a factor of seven from 2012 to 2020.
About MicroVision
MicroVision is the creator of PicoP® display technology, an
ultra-miniature laser projection solution for mobile consumer
electronics, automotive head-up displays and other applications.
MicroVision’s patented display technology helps OEMs break down display
boundaries and offer enhanced visibility to mobile experiences. Nearly
two decades of research has led MicroVision to become an independently
recognized leader in the development of intellectual property.
MicroVision’s IP portfolio has been recognized by the Patent Board as a
top 50 IP portfolio among global industrial companies and is also
included in the Ocean Tomo 300 Patent Index. The company is based in
Redmond, Wash.
For more information, visit the company’s website at www.microvision.com,
on Facebook at www.facebook.com/MicroVisionInc
or follow MicroVision on Twitter at @MicroVision.
MicroVision and PicoP are trademarks of MicroVision, Inc. in the
United States and other countries. All other trademarks are the
properties of their respective owners.
Forward-Looking Statements
Certain statements contained in this release, including those relating
to future products and technology development and those containing words
such as “will” 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; products incorporating our PicoP display engine may
not achieve market acceptance, commercial partners may not perform under
agreements as anticipated, we may be unsuccessful in identifying parties
interested in paying any amounts or amounts we deem desirable for the
purchase or license of IP assets, or our customers' failure to perform
under open purchase orders; 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; 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 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.
Copyright Business Wire 2013