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Kopin Secures $3.4M 2022 Purchase Commitment from JUTZE Intelligence Technology
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Rhea-AI Summary
Kopin Corporation (NASDAQ: KOPN) announced a $3.4 million order from JUTZE Intelligence Technology to supply Spatial Light Modulators (SLMs) for advanced 3D inspection equipment. This order is part of Forth Dimension Displays Limited's commitment to the growing 3D Automated Optical Inspection market, projected to expand from $750 million in 2020 to $1.58 billion by 2025. The SLMs help improve manufacturing yields and product quality in electronics, particularly in the electric vehicle sector, enhancing JUTZE's competitive position in the market.
Positive
Secured a $3.4 million order commitment from JUTZE Intelligence Technology.
Aligns with the growing 3D AOI market projected to grow 16% annually.
SLMs enhance product quality and reduce waste in manufacturing processes.
Negative
Dependence on JUTZE for order fulfillment could pose risks if market conditions change.
Kopin subsidiary Forth Dimension Displays Continues To Grow Business With Chinese Inspection Equipment Manufacturer
WESTBOROUGH, Mass.--(BUSINESS WIRE)--
Kopin Corporation (NASDAQ: KOPN), a leading developer of innovative wearable computing technologies and solutions, announced that its wholly owned subsidiary, Forth Dimension Displays Limited (ForthDD), has secured a $3.4 million order commitment from JUTZE Intelligence Technology Co., Ltd. (JUTZE) (Shenzhen Stock Exchange: SHE:300802). The order is to provide Spatial Light Modulators (SLMs) for JUTZE’s Edge series of 3D Automated Optical Inspection (3D AOI) and Mirage series of 3D Solder Paste Inspection (3D SPI) equipment, with expected deliveries through 2022.
ForthDD is a manufacturer of SLMs designed specifically for the 3D SPI, 3D AOI and 3D Metrology markets. JUTZE is a leading Chinese inline inspection equipment manufacturer that supplies equipment to tier one Electronics Manufacturing Services (EMS) companies providing services to global consumer and automotive brands.
Published market research forecasts that the 3D AOI systems market will continue to grow by approximately 16% annually from $750M in 2020 to $1.58B in 2025. The increasing demand for higher productivity from EMS companies and the rising need for 3D AOI systems in automotive electronics are factors fueling this growth.
SLMs are a key component of 3D AOI/SPI equipment. The SLM is used to project structured light onto the PCA/PCB being measured by the 3D AOI/SPI machine. The ability to use this technology to measure component placement/solder paste in all three dimensions, on every board in real time, enables companies to improve yields and product quality while reducing waste and cost. Such advanced equipment is especially important for the growing electric vehicle market. ForthDD’s SXGA (1280 x 1024) high resolution, fast switching, all digital, high performance, proprietary ferroelectric liquid crystal reflective display is the center piece of ForthDD’s SXGA-R12 SLM product.
Karl Yang, CEO of JUTZE said, “JUTZE has been using ForthDD’s SLMs for a number of years and we feel that it is the most reliable and accurate technology for our inline inspection equipment. ForthDD’s SLMs have undoubtedly played a key role in growing JUTZE’s market share to where it is today.”
Greg Truman, CEO of ForthDD said, “We are supplying SLMs to major vendors of 3D AOI and SPI equipment in Germany, Japan, South Korea and China, with the China market showing the strongest growth over the last few years. JUTZE is a leading 3D AOI manufacturer in China, and their renewed commitment to using ForthDD’s SLMs in their equipment is a strong testament to the performance and reliability of our products.”
About Kopin
Kopin Corporation is a leading developer and provider of innovative display and optical technologies sold as critical components and subassemblies for defense, industrial and consumer products. Kopin's technology portfolio includes ultra-small 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.
About Forth Dimension Displays Limited
Forth Dimension Displays has been a wholly owned subsidiary of Kopin Corporation since its acquisition in January 2011. Based in Fife, Scotland, UK, the company focuses on the design, development, manufacture and sale of microdisplays and SLMs (Spatial Light Modulators) for professional and technical markets. One of its major markets is the 3D inspection of SMT PCBs where it supplies its SXGA SLM product to market leading customers in South Korea, Japan, Germany and China. For more information, please visit ForthDD's website at www.forthdd.com.
About JUTZE Intelligence Technology
JUTZE Intelligence Technology Co. LTD is a subsidiary of JUTZE Group of Suzhou, PRC. JUTZE Intelligence Technology is a professional visual inspection equipment manufacturer. Founded in 2007, and with its innovative vision inspection technology, JUTZE Intelligence Technology soon became one of the industry leaders in the Chinese inspection market. The company’s product range includes AOI (Automated Optical Inspection) and SPI (Solder Paste Inspection) machines for SMT lines, Inline LED inspection equipment and Laser Markers. For more information, please visit JUTZE's website at http://www.jutze.com.cn/en/.
Kopin is a trademark of Kopin Corporation
Forward-Looking Statements
Statements in this press release may be considered “forward-looking” statements under the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These include, without limitation, statements relating to our expectation that we will make deliveries through 2022. These statements involve a number of risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. These risks and uncertainties include, but are not limited to, thatthe market for 3D inline inspection machines may not grow around the globe; ForthDD may not have and may not be supplying SLMs to major vendors of 3D AOI and SPI equipment in Germany, Japan, South Korea and China; and other risk factors and cautionary statements listed in Kopin’s periodic reports and registration statements filed with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the 12 months ended December 31, 2020, and Kopin’s subsequent filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements, which are based only on information currently available to Kopin and only as of the date on which they are made. We undertake no obligation to update any of these forward-looking statements to reflect events or circumstances occurring after the date of this release.
