MicroVision Receives Nearly $1.9 Million in Component Orders for Fortune Global 100 Customer
MicroVision, Inc a leader in innovative ultra-miniature projection display technology, today announced it has received purchase orders for components for high definition display modules being developed by its Fortune Global 100 customer. These orders, which are valued at nearly $1.9 million, are part of the production readiness and commercialization activities MicroVision is engaged in with its customer. The customer has informed MicroVision of its plans to incorporate the components in high definition display modules it has developed with support from MicroVision.
The development activity under the April 2013 agreement is now complete. The Fortune Global 100 company, in an announcement earlier this year, stated that it aims to bring the display module to market for use in pico projectors and other devices with projector functionality. MicroVision expects shipment of components to begin in the fourth quarter extending into the first quarter of 2015. The components are intended as part of commercialization preparation activities to exercise the supply chain for MicroVision and its customer and to support early production needs. MicroVision has previously stated its intention to have its supply chain capable of volume production in the fourth quarter of 2014.
Today’s announcement is a step toward achieving that goal. “We are extremely pleased with the progress we have made with our partner and in taking this next step for its commercialization efforts,” said Alexander Tokman, president and CEO of MicroVision. “Partnering with such a leader in the consumer electronics industry has been an incredible experience, and we look forward to the next phase in our collaboration.”
