Microvision Inc. (Nasdaq: MVIS), a provider of next-generation projector display and imaging products, and Asia Optical Co. Inc., a leading manufacturer of optical instruments such as fiber optics and digital cameras, today announced a supply agreement expected to leverage both companies’ position in the industry and provide consumers with high-quality display products.
Per the agreement, Asia Optical will manufacture its proprietary PicoP technology-based display engines, as well as Microvision’s first stand-alone Pico projector products, to boost their positions in the marketplace.
“Our PicoP go-to-market strategy leverages strategic supply chain partnerships and we are very excited to formally announce our partnership with Asia Optical. Asia Optical’s production capabilities are outstanding. They are one of the world’s largest high-volume and vertically integrated manufacturers of digital cameras, high-precision lenses, photonic modules, DVD engines and electronics assemblies. This agreement represents a major milestone in our PicoP commercialization plan,” Alexander Tokman, Microvision’s president and CEO stated in the press release.
According to the companies, original equipment manufacturers (OEMs) around the world are looking for ways to integrate Pico projectors into their existing product lines and have displayed interest in Microvision’s ultra-miniature, low-power PicoP display engine. The product features large-size, high-resolution images applicable for embedded or accessory projectors for cell phones, personal media players, laptops and hand-held gaming devices.
Robert Lai, Asia Optical founder, chairman and CEO, said the supply and distribution agreement between the companies will impact current and future technologies and meet the changing demands of OEMs.
“Microvision has an outstanding display technology that we believe will revolutionize the mobile handset marketplace. We strongly believe that Microvision’s PicoP display will allow OEMs to enhance the value of their existing and future products as well as provide consumers new and exciting mobile projection display functionality that cannot be achieved through traditional display technologies,” Lai stated.
“With our strong global manufacturing and vertical products integration capabilities as well as the extensive experience in working with leading global consumer electronics companies, we are confident that the products we deliver on behalf of Microvision will excite OEMs and the millions of consumers who are looking for high-quality display projection capabilities from their mobile devices,” he continued.
The companies have already mapped out a strategy to launch high-volume production, and the first products are expected to be finalized later this year.
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