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|Microvision Signs Agreement with Motorola to Develop Pico Projector Display for Mobile Applications|
REDMOND, Wash.--(BUSINESS WIRE)--July 24, 2007--Microvision (Nasdaq: MVIS) today announced that it has signed an agreement with Motorola to develop pico projector display solutions for mobile applications leveraging Microvision's ultra-miniature laser based display engine, called PicoP(TM).
Tiny laser-based projectors are expected to enable a "big screen" viewing experience from mobile devices. By projecting content displayed on the device screen onto a wall, object or even a curved surface, mobile users could easily share Websites or multimedia applications such as movies, personal videos, mobile TV, photographs and presentations with friends or business colleagues.
"Motorola is committed to driving technology innovation that will enable the next generation of great consumer experiences," said Rob Shaddock, CTO, Motorola Mobile Devices business. "Working together with Microvision, we are pursuing ways that projection technology can redefine how mobile consumers view and interact with the media they take with them."
"With its slim form factor and low power requirements, Microvision's PicoP projector is optimized for the mobile environment," stated Alexander Tokman, President and CEO of Microvision. "We believe that our unique display technology, combined with Motorola's focus on delivering cool experiences, would allow mobile users to enhance their viewing of information and entertainment."
Terms of the agreement were not disclosed, however the companies revealed they will work together initially to integrate Microvision's latest PicoP projector inside a functioning mobile device for demonstration purposes. This prototype handset will utilize Microvision's new, WVGA (854 x 480 color pixels) wide angle scanner, first demonstrated in May 2007 at the Society of Information Display annual conference.
About Microvision: www.microvision.com
Microvision provides the PicoP display technology platform designed to enable next generation display and imaging products for pico projectors, vehicles displays, and wearable displays that interface to mobile devices. The company also manufactures and sells its bar code scanner product line which features the company's proprietary MEMS technology.
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Certain statements contained in this release, including those relating to future products, product applications and benefits, market opportunity, future product form factor and power requirements, as well as statements containing words like "expects," "believes," 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: 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.