Fortune 50 Online Retailer Places Follow-on Order for Vuzix Smart Glasses to Support Expanding Warehouse Usage

Rhea-AI Summary

On March 4, 2022, Vuzix Corporation (NASDAQ: VUZI) announced a follow-on order worth $200,000 from a Fortune 50 Online Retailer for its smart glasses. This order aims to support enhanced training and remote maintenance across warehouses, following a successful proof-of-concept (POC) deployment last year. Initially, Vuzix smart glasses were deployed in 40 warehouses, and this order will facilitate further expansion in existing locations and new sites. Vuzix continues to showcase its leadership in Smart Glasses and Augmented Reality technologies.

Positive

• Received a follow-on order worth $200,000 from a Fortune 50 Online Retailer.
• Supports expanding deployment of smart glasses in warehouses.
• Follow-on order indicates strong customer confidence and potential for future orders.

Negative

• None.

ROCHESTER, N.Y., March 4, 2022 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced that a Fortune 50 Online Retailer has placed a $200,000 follow-on order for Vuzix smart glasses to support the expanding usage of these glasses for training and remote maintenance within its warehouses. This order follows the successful completion of a proof-of-concept (POC) earlier last year in one warehouse and the initial deployment of Vuzix smart glasses in 40 warehouses several months ago. This follow-on order will support the further deployment of glasses to these 40 warehouses as well as initial deployment to additional locations.

"We are pleased to see a customer of this caliber, not only a retailer leader but also an innovative user of new technologies, continue to deploy and actively use Vuzix smart glasses, a proven productivity tool," said Paul Travers, President and Chief Executive Officer at Vuzix. "This Fortune 50 customer represents just one of many exciting opportunities within this vertical, and we look forward to working with them, as well as others, to expand both the depth and breadth of Vuzix Smart Glasses usage this year and beyond."

About Vuzix Corporation

Vuzix is a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company's products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 241 patents and patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2022 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK, and Tokyo, Japan.  For more information, visit the Vuzix website,  Twitter and Facebook pages.

Forward-Looking Statements Disclaimer

Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to Vuzix Smart Glasses, our business relationship, potential for further orders, and additional future opportunities with this customer, and among other things the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.

Vuzix Media and Investor Relations Contact:

Ed McGregor, Director of Investor Relations,
Vuzix Corporation
ed_mcgregor@vuzix.com  
Tel: (585) 359-5985

Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com  www.vuzix.com

 

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SOURCE Vuzix Corporation

FAQ

What is Vuzix Corporation's recent order related to?

Vuzix Corporation recently announced a $200,000 follow-on order for smart glasses from a Fortune 50 Online Retailer to support warehouse operations.

How much is Vuzix's follow-on order worth?

The follow-on order from the Fortune 50 Online Retailer is worth $200,000.

What will the follow-on order from the Fortune 50 Online Retailer be used for?

The follow-on order will be used for training and remote maintenance in warehouses.

How many warehouses are currently using Vuzix smart glasses?

Vuzix smart glasses are currently deployed in 40 warehouses.

When was the follow-on order for Vuzix smart glasses announced?

The follow-on order was announced on March 4, 2022.