Kopin Corporation Receives Follow On Order of Silicon Backplane Wafers for 2K x 2K OLED Microdisplays

Rhea-AI Summary

Kopin Corporation (NASDAQ: KOPN) has secured a follow-on order valued at approximately $850,000 for its proprietary Lightning^® 2K silicon backplane wafers. This order highlights the ongoing demand for Kopin's OLED microdisplay technology and validates its fabless business model. The Lightning 2K backplane features a resolution of 2048 x 2048 in a 1-inch diagonal size and operates at up to 120 Hz with low power consumption. This development reinforces Kopin's position in the market and its capability to provide advanced display solutions.

Positive

• Follow-on order of approximately $850,000 for Lightning 2K silicon backplane wafers confirms market demand.
• The repeat order validates Kopin's fabless business model, enhancing flexibility in meeting customer demands.

Negative

• None.

WESTBOROUGH, Mass.--(BUSINESS WIRE)-- Kopin^® Corporation (NASDAQ: KOPN), a leading developer and provider of high-resolution microdisplays and display subassemblies for consumer, defense, enterprise, industrial and medical products, announced today it has received an approximately $850,000 follow-on order for its proprietary Lightning^® 2K silicon backplane wafers.

“We are proud to receive an additional follow-on order for our proprietary Lightning^® 2K silicon backplane wafers,” said Dennis Natale, VP/GM of Kopin OLED Displays. “We believe this repeat order confirms the continued market demand of our backplane wafers for OLED microdisplays and represents further validation of our fabless business model. Our fabless OLED model enables Kopin to provide its own finished OLED displays to customers and/or sell its highly advanced, proprietary backplane wafers on an OEM basis to other OLED microdisplay providers for seamless integration into their own products. This business model provides more flexibility to meet customer demand without implying major fixed capital investment to commercialize our products and technology.”

Kopin’s Lightning 2K backplane supports OLED (Organic Light Emitting Diode) microdisplays with 2048 x 2048 resolution in a 1-inch diagonal size, and can run at up to 120 Hz with low power consumption.

About Kopin

Kopin Corporation is a leading developer and provider of innovative display and optical technologies sold as critical components and subassemblies for military, industrial and consumer products. Kopin’s technology portfolio includes ultrasmall Active Matrix Liquid Crystal displays (AMLCD), Liquid Crystal on Silicon (LCOS) displays and Organic Light Emitting Diode (OLED) displays, a variety of optics, and low-power ASICs. For more information, please visit Kopin’s website at www.kopin.com.

Kopin and Lightning are trademarks of Kopin Corporation

Forward-Looking Statements

Statements in this press release may be considered "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which are subject to the safe harbor created by such sections. Words such as "expects," "believes," "can," "will," "estimates," and variations of such words and similar expressions, and the negatives thereof, are intended to identify such forward-looking statements. We caution readers not to place undue reliance on any such "forward-looking statements," which speak only as of the date made, and advise readers that these forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, estimates, and assumptions by us that are difficult to predict. These forward-looking statements may include statements with respect to our belied this repeat order confirms the continued market demand of our backplane wafers for OLED microdisplays and represents further validation of our fabless business model. Various factors, some of which are beyond our control, could cause actual results to differ materially from those expressed in, or implied by, such forward-looking statements. All such forward-looking statements, whether written or oral, and whether made by us or on our behalf, are expressly qualified by these cautionary statements and any other cautionary statements that may accompany the forward-looking statements. In addition, we disclaim any obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release, except as may otherwise be required by the federal securities laws. These forward-looking statements are only predictions, subject to risks and uncertainties, and actual results could differ materially from those discussed. Important factors that could affect performance and cause results to differ materially from management's expectations are described in Part I, Item 1A. Risk Factors; Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations; and other parts of our Annual Report on Form 10-K for the fiscal year ended December 26, 2020, or as updated from time to time in the Company's Securities and Exchange Commission filings.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210923005228/en/

Kopin Corporation

Dennis Natale, 508-870-5959

VP/GM Kopin OLED Displays

DNatale@kopin.com

Richard Sneider, 508-870-5959

Treasurer and Chief Financial Officer

Richard_Sneider@kopin.com

or

Market Street Partners

Joann Horne, 415-445-3233

JHorne@marketstreetpartners.com

Source: Kopin Corporation