Innovative Eyewear Inc. Announces the First Walkie-Talkie Feature for Smart Eyewear

Rhea-AI Summary

Innovative Eyewear Inc. (NASDAQ: LUCY) has introduced a groundbreaking Walkie-Talkie feature for its Lucyd smart eyewear line. This update enables unlimited voice conferencing with up to thousands of users on each channel, accessible through the Lucyd app for iOS and Android. The feature is designed to benefit industrial and warehousing customers, particularly with the upcoming Lucyd® Armor smart safety glasses.

The company has received ANSI certification for the Lucyd Armor product, allowing it to be sold as certified safety glasses. Innovative Eyewear views the global safety glass market, valued at $7.9 billion with a 13.85% CAGR, as a significant growth opportunity. The company holds 112 patents, applications, and licenses in the smart eyewear industry and has introduced several industry firsts, including prescription-fitted smartglasses and the integration of ChatGPT in glasses.

Positive

• Introduction of Walkie-Talkie feature for Lucyd smart eyewear, enabling unlimited voice conferencing
• ANSI certification received for Lucyd Armor smart safety glasses
• Targeting the global safety glass market valued at $7.9 billion with 13.85% CAGR
• Company holds 112 patents, applications, and licenses in smart eyewear industry

Negative

• None.

Tech Expert

The introduction of a walkie-talkie feature to Lucyd Eyewear represents a significant step forward in the smart eyewear industry. By enabling instant, limitless voice communication, this feature leverages current technology to solve practical problems, especially in environments like warehouses and hospitals where quick, hands-free communication is crucial. This could make Lucyd Eyewear more attractive to enterprise customers seeking an all-in-one solution for communication and safety. However, it's important to consider potential drawbacks, such as the reliance on the Lucyd app and the need for consistent internet connectivity, which might limit the feature's functionality in areas with poor network coverage.

Another aspect to note is the ANSI certification received by the upcoming Lucyd Armor product. This not only validates its safety features but also broadens its marketability, making it a more compelling option for industries that prioritize worker safety. The combination of smart communication tools and protective eyewear is a unique selling proposition that could give Innovative Eyewear a competitive edge in a market valued at $7.9 billion globally.

Overall, the new feature and certification are likely to enhance Innovative Eyewear's market position, but the company will need to ensure robust app performance and network reliability to realize the full potential of these innovations.

Market Research Analyst

The global safety glass market, with a valuation of $7.9 billion and a CAGR of 13.85%, presents a lucrative opportunity for Innovative Eyewear. The integration of the walkie-talkie feature specifically targets industrial and safety applications, aligning well with market needs. The ANSI certification further legitimizes Lucyd Armor as a viable product within this sector, potentially accelerating its adoption.

However, market saturation and competition should be carefully considered. Other players in the smart eyewear market, such as Google and Bose, also offer advanced features, which means Lucyd Eyewear must differentiate itself not only through innovative features but also through aggressive marketing and strategic partnerships to capture market share. Additionally, while the walkie-talkie feature is innovative, its success will depend on user reception and practical functionality in real-world settings.

For investors, this development suggests a positive outlook for the company, particularly in terms of revenue growth potential from the industrial sector. Nevertheless, close monitoring of sales performance and user feedback will be critical in assessing the long-term impact of these new features.

Miami, Florida--(Newsfile Corp. - July 18, 2024) - Innovative Eyewear Inc. (NASDAQ: LUCY) (NASDAQ: LUCYW) ("Innovative Eyewear" or "the Company"), the developer of smart eyewear under the Lucyd^®, Nautica^®, Eddie Bauer^® and Reebok^® brands, today announced the debut of a new Walkie-Talkie feature on all Lucyd Eyewear. The new update to the Lucyd app for iOS and Android, released this week, enables Lucyd users worldwide to speak to each other through walkie-talkie style communication channels on their glasses. This new feature provides instant, unlimited voice conferencing with up to thousands of users on each channel.

"Imitating the simple controls of walkie talkies, but removing their typical signal radius limitations, makes this a fast, powerful and convenient communication feature of our glasses," said Harrison Gross, CEO of Innovative Eyewear. "No dialing, waiting for an answer, or conferencing in folks - just share a channel number and join in real time. We anticipate this feature will be well-received by industrial and warehousing customers of our upcoming smart safety glasses. We look forward to providing this handy new tool to working teams worldwide."

Lucyd® Armor smart safety glasses (patent pending) - photo courtesy Innovative Eyewear Inc.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10656/216953_399dc6e0447dd8b6_002full.jpg

Designed with large teams of safety glass users in mind, this feature will make Innovative Eyewear's upcoming Lucyd^® Armor smart safety glass a communication tool and personal protection equipment in one convenient device. For example, the entire staff of a warehouse or hospital can communicate freely with each other, handsfree on their safety glasses.

The Company is also pleased to share that last week, it received ANSI certification on the upcoming Lucyd Armor product, enabling it to be sold as certified safety glasses. The Company views the global safety glass market, valued at $7.9b worldwide with a CAGR of 13.85%¹, as an important growth opportunity, and a necessary step in its mission to Upgrade your Eyewear®.

As listed below, this new walkie-talkie feature is another smart eyewear industry first introduced by Innovative Eyewear Inc., the holder of 112 patents, applications and licenses in the smart eyewear industry.

• First US company to ship prescription-fitted smartglasses direct to consumer.
• First US company to develop and produce a line of smart eyewear in 10+ distinct styles, in 2019. We now offer more than 30 styles.
• First US company to offer multiple smart eyewear styles for women & youth.
• First to develop a cordless charging cradle for smartglasses, that fits any size of glasses.
• First to introduce smart eyewear with titanium front plates in the US market, in 2021.
• First smart eyewear with 12 hours of talk/music time or 160 hours of standby Bluetooth per charge. The longest battery life in the category.
• First smart eyewear company to introduce ChatGPT in glasses in 2023 and introduce the first wearable Generative AI product in the world.
• First Company to provide flexible spring hinges for smart eyewear.
• First Company to introduce a social audio platform purpose-built for glasses, Vyrb.

^1.    https://www.linkedin.com/pulse/safety-glasses-market-size-booming-globally-l6tqc/

About Innovative Eyewear Inc.

Innovative Eyewear is a developer and retailer of cutting-edge ChatGPT-enabled smart eyewear under the Lucyd^®, Nautica^®, Eddie Bauer^® and Reebok^® brands. True to our mission to Upgrade Your Eyewear^®, our Bluetooth audio glasses allow users to stay safely and ergonomically connected to their digital lives and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more about our smart eyewear collection and explore the future of eyewear technology, please visit www.Lucyd.co.

Forward-Looking Statements

This press release contains certain forward-looking statements, including those relating to the launch of new products. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including but not limited to "anticipate," "believe," "continue," "estimate," "expect," "future," "intend," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 10-K under the caption "Risk Factors."

Investor Relations Contact:

Scott Powell
Skyline Corporate Communications Group LLC
Office: +1 (646) 893-5835
Email: scott@skylineccg.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/216953

FAQ

What new feature has Innovative Eyewear Inc. (LUCY) introduced for its Lucyd smart eyewear?

Innovative Eyewear Inc. (LUCY) has introduced a new Walkie-Talkie feature for its Lucyd smart eyewear, enabling unlimited voice conferencing with up to thousands of users on each channel.

What certification has Innovative Eyewear Inc. (LUCY) received for its Lucyd Armor product?

Innovative Eyewear Inc. (LUCY) has received ANSI certification for its Lucyd Armor product, allowing it to be sold as certified safety glasses.

What is the value and growth rate of the global safety glass market that Innovative Eyewear Inc. (LUCY) is targeting?

Innovative Eyewear Inc. (LUCY) is targeting the global safety glass market, which is valued at $7.9 billion and has a Compound Annual Growth Rate (CAGR) of 13.85%.

How many patents, applications, and licenses does Innovative Eyewear Inc. (LUCY) hold in the smart eyewear industry?

Innovative Eyewear Inc. (LUCY) holds 112 patents, applications, and licenses in the smart eyewear industry.