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REDMOND, Wash.--(BUSINESS WIRE)--March 24, 2014-- MicroVision, Inc. (NASDAQ:MVIS), a leader in innovative ultra-miniature projection display technology, today announced that it has agreed to supply customized PicoP(R) display modules to UPS, a global leader in logistics, transportation, package delivery and freight forwarding.
UPS handles millions of packages in more than 200 countries and territories every day. MicroVision's technology is part of a new package guidance application aimed at increasing processing efficiency in real-time package sorting and routing that UPS is deploying in a facility in the United States.
PicoP(R) display technology was selected for this application due to its ability to operate in industrial environments and its distinguishing performance characteristics including brightness, infinite focus, and variable field of view. The projection module will be paired with UPS scanning systems to improve package sorting processes.
"We are very pleased to be supplying custom PicoP display modules to UPS for its package routing application," Alexander Tokman, MicroVision president and CEO, said. "As the leader in logistics handling high volumes of packages every day, UPS is the ideal company to deploy advanced projection capabilities to improve package handling processes. We are confident that MicroVision's PicoP display technology will aid in accuracy and increased efficiency."
MicroVision has designed a custom display module for UPS that projects information directly onto packages. Because the size of packages coming through the sorting process vary greatly, the infinite focus and variable field of view projection of PicoP display technology make it well-suited for this application. The overall brightness of the laser-based projector module provides easy visibility for the package handlers.
About MicroVision: MicroVision is the creator of PicoP(R) 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.
WEBSITE: www.microvision.com
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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 sales and product benefits, and those containing words such as "will" and "confident" 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, our 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.
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