October 8, 2008
Microvision and Asia Optical Join Forces to Enable High-Volume Production of PicoP Display Engines and Accessory Pico Projectors
Microvision, Inc. (NASDAQ: MVIS), a global leader in innovative ultra-miniature projection display and image capture products for mobility applications, and Asia Optical Co., Inc. (TSE:3019), a leading manufacturer of electro-optical components, today announced they have entered into a Supply Agreement for Asia Optical to produce products based on Microvision's proprietary PicoP(TM) technology. Under the agreement, Asia Optical will manufacture PicoP display engines and Microvision's first stand-alone accessory Pico projector product. Design for manufacturing collaboration between the two companies for high-volume production has already begun. The first units manufactured under the agreement are expected to be completed later this year.
Global original equipment manufacturers (OEMs) and distributors that are seeking to integrate Pico projectors into their product portfolios have shown strong interest in Microvision's ultra-miniature, low-power PicoP display engine because of its ability to produce bright, large-size, high-resolution, color-rich images that are always in focus. Potential applications for the PicoP display engine include embedded or accessory projectors for mobile phones, personal media players, laptops and hand-held gaming devices.Alexander Tokman, Microvision President and CEO, stated, "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."
Robert Lai, Asia Optical Founder, Chairman and CEO, commented, "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 can not be achieved through traditional display technologies. 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."
About Microvision www.microvision.com
Microvision provides the PicoP display technology platform designed to enable next-generation display and imaging products for Pico projectors, vehicle displays, and wearable displays that interface with mobile devices. The company also manufactures and sells its bar code scanner product line which features the company's proprietary MEMS technology.
About Asia Optical www.asia-optical.com.tw
Asia Optical Co., Inc. (AOCI) is one of Taiwan's leading original equipment manufacturer "OEM" and original designed manufacturer "ODM" of optical instruments, including fiber optics, digital cameras, DVD engines, laser range finders and more. The company designs, manufactures and distributes its products all over the world; AOCI's products are sold under a number of well-known household consumer electronic brand names. AOCI was founded in 1981, and has more than 23,000 employees worldwide and annual sales exceeding $1.1 Billion USD.
Forward-Looking Statements Disclaimer
Certain statements contained in this release, including those relating to timing of manufactured units, future products and product applications, as well as statements containing words like "expects,""believe," and other similar expressions, 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: availability and quantities of key components, our ability to raise additional capital when needed; our financial and technical resources relative to those of our competitors; our ability to keep up with rapid technological change; our dependence on the defense industry and a limited number of government development contracts; 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 the 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.