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Kopin Subsidiary Secures $1 Million Order from Nexstar Technology (South Korea)

KOPN

Forth Dimension Displays expands its Korean customer base for 3D inspection

Kopin Corporation (NASDAQ: KOPN), a leading developer of innovative wearable computing technologies and solutions, announced that its wholly owned subsidiary, Forth Dimension Displays Limited (ForthDD), has secured a $1 million production order from Nexstar Technology Co., Ltd. (Nexstar), headquartered in Gyeonggi Province, South Korea. The order is to provide Spatial Light Modulators (SLMs) for Nexstar’s new Nexman GENIO series of 3D Automated Optical Inspection (3D AOI) and 3D Solder Paste Inspection (3D SPI) equipment.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220621005331/en/

Nexstar 3D AOI System (Photo: Business Wire)

Nexstar 3D AOI System (Photo: Business Wire)

ForthDD is a manufacturer of Ferroelectric Liquid Crystal on Silicon (FLCOS) SLM systems designed specifically for the growing 3D AOI, 3D SPI and 3D Metrology markets. Nexstar is a leading South Korean inspection equipment manufacturer that supplies machinery to East Asian manufacturers of a wide range of electronic products such as printed circuit board assemblies (PCBAs), semiconductors, batteries, displays and mobile device components.

Published market research forecasts that the 3D AOI systems market will continue growing by approximately 16% annually from $750M in 2020 to $1.58B in 2025. Factors fueling this growth include increasing demands for higher productivity and quality from EMS companies and the rising demand for 3D AOI systems in the automotive electronics market. Having secured this production order from Nexstar, ForthDD is now supplying its SLMs to three leading South Korean inspection equipment manufacturers who are in mass production.

SLMs are a key component of 3D AOI/SPI equipment. The SLM is used to project structured light onto the PCBAs being measured by the 3D AOI/SPI machine. The ability to use this technology to measure component placement/solder paste in all three dimensions, on every board in real time, enables companies to do 100% inspection of populated PCBAs while also monitoring trends and improving yields which reduces waste and cost. Such advanced equipment is especially important for the growing electric vehicle market. ForthDD’s SXGA (1280 x 1024 pixels) high resolution, fast switching, all digital, high performance, proprietary FLCOS SLM is the center piece of ForthDD’s SXGA-R12 product for the 3D AOI market

Jeong Duck Kim, CEO of Nexstar, said, “ForthDD’s FLCOS SLM technology has a reputation in the market for enabling 3D AOI and SPI machines to deliver fast, reliable and accurate results, and we are excited to be partnering with them on our Nexman GENIO range of products.”

Greg Truman, CEO of ForthDD, said, “We are delighted to be selected to supply the key projection component for Nexstar's new 3D AOI and SPI products. Winning Nexstar's business is another vote of confidence in ForthDD by the marketplace. With this news, we are now supplying our high speed, high performance SLMs to three leading Korean 3D inspection equipment manufacturers, in addition to other key manufacturers in China, Japan and Germany.”

About Kopin

Kopin Corporation is a leading developer and provider of innovative display and optical technologies sold as critical components and subassemblies for defense, industrial and consumer products. Kopin's technology portfolio includes ultra-small Active Matrix Liquid Crystal displays (AMLCD), Liquid Crystal on Silicon (LCOS) displays and Organic Light Emitting Diode (OLED) displays, a variety of optics, and low-power ASICs. For more information, please visit Kopin's website at www.kopin.com.

About Forth Dimension Displays Limited

Forth Dimension Displays has been a wholly owned subsidiary of Kopin Corporation since its acquisition in January 2011. Based in Dalgety Bay, Scotland, UK, the company focuses on the design, development, manufacture and sale of microdisplays and SLMs (Spatial Light Modulators) for professional and technical markets. One of its major markets is the 3D inspection of SMT PCBs where it supplies its SXGA SLM product to market leading customers in South Korea, Japan, Germany and China. For more information, please visit ForthDD's website at www.forthdd.com.

About Nexstar Technology

Nexstar Technology Co., Ltd. (Nexstar), headquartered in Gyeonggi Province, South Korea, is a leading South Korean inspection equipment manufacturer that supplies inspection equipment for a wide range of products such as printed circuit board assemblies (PCBAs), semiconductors, battery technology, display technology and mobile device components to electronics manufacturers. For more information, please visit Nexstar’s website at www.nexstar21.com.

Forward-Looking Statements

Statements in this press release may be considered "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which are subject to the safe harbor created by such sections. Words such as "expects," "believes," "can," "will," "estimates," and variations of such words and similar expressions, and the negatives thereof, are intended to identify such forward-looking statements. We caution readers not to place undue reliance on any such "forward-looking statements," which speak only as of the date made, and advise readers that these forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, estimates, and assumptions by us that are difficult to predict. These forward-looking statements may include statements with respect to: our expectations of market growth and size of 3D AOI systems; and our continuing to supply our high speed, high performance SLMs to the three leading Korean 3D inspection equipment manufacturers, and other key manufacturers in China, Japan and Germany. Various factors, some of which are beyond our control, could cause actual results to differ materially from those expressed in, or implied by, such forward-looking statements. All such forward-looking statements, whether written or oral, and whether made by us or on our behalf, are expressly qualified by these cautionary statements and any other cautionary statements that may accompany the forward-looking statements. In addition, we disclaim any obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release, except as may otherwise be required by the federal securities laws. These forward-looking statements are only predictions, subject to risks and uncertainties, and actual results could differ materially from those discussed. Important factors that could affect performance and cause results to differ materially from management's expectations are described in Part I, Item 1A. Risk Factors; Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations; and other parts of our Annual Report on Form 10-K for the fiscal year ended December 25, 2021, or as updated from time to time our Securities and Exchange Commission filings.

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