ROCHESTER, N.Y., Nov. 8, 2017 /PRNewswire/ — Vuzix® Corporation (NASDAQ: VUZI), (“Vuzix” or, the “Company”), a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets, is pleased to announce that along with the many pilots that have already moved to volume production, the company has more than 350 M300 pilots across a broad customer base that includes numerous large global companies. In addition to multi-site customer footprint expansions, Vuzix continues to see more complex and different use cases for the M300 that are now being successfully migrated beyond pilot programs in industries like pharma, logistics, field inspection and others. The Vuzix M300 has an extensive distribution channel and is currently being shipped into 45 countries across the globe with plans underway to expand distribution to a further 55 countries worldwide.
“Since the commercial launch of the M300, Vuzix and its VIP partners and direct customers have completed dozens of pilot programs, that are now resulting in commercial volume follow-up orders which are being fulfilled with our tested and optimized M300 Smart Glasses that are now in full volume production,” said Paul Travers, President and Chief Executive Officer at Vuzix. “It’s very apparent to us that the enterprise smart glasses industry has shifted into the adoption phase and should undergo strong growth rates consistent with market researcher’s forecasts of hundreds of thousands of devices being required globally in 2018. We are confident that Vuzix will participate broadly in this growth with its industry leading M300 Smart Glasses.”
About Vuzix Corporation
Vuzix is a leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company’s products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and virtual and augmented reality. Vuzix holds 59 patents and 42 additional patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2017 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK and Tokyo, Japan.
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 the demand and sales outlook for the M300, its growing customer base, and among other things, to the Company’s leadership in the Video Eyewear 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.
Media and Investor Relations Contact:
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SOURCE Vuzix Corporation
Released November 8, 2017
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