Vuzix Continues to Receive Multiple Follow-On M400 Smart Glasses Orders from Both Resellers and End Customers to Support Business Operations Amid COVID-19 Pandemic
Vuzix Corporation (NASDAQ: VUZI) announced receiving follow-on orders for M400 Smart Glasses from a Fortune 500 engine manufacturer and a leading pharmaceutical air transportation provider. Both customers conducted successful proof-of-concept evaluations, showing significant demand for remote guidance and training solutions amid the COVID-19 pandemic. Additionally, Brochesia, an Italian software provider, placed an undisclosed follow-on order for M400 Smart Glasses to support various industries. This trend indicates increasing customer adoption of Vuzix Smart Glasses in enterprise applications, enhancing operational efficiency.
- Received follow-on orders from a Fortune 500 engine manufacturer, indicating strong demand.
- Successful proof-of-concept evaluations led to increased orders for M400 Smart Glasses.
- Brochesia, an Italian software provider, placed a follow-on order to support multiple industries.
- None.
ROCHESTER, N.Y., Nov. 12, 2020 /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 the Company has received initial follow-on orders and delivered M400 Smart Glasses kits to support remote support and training after rapid and successful proof of concept evaluations were performed by two new customers. The COVID-19 global pandemic continues to be an accelerant for the adoption within the enterprise smart glasses.
The first customer is a Fortune 500 engine manufacturer and distributor and after a rapid and successful proof of concept evaluation was completed this summer using a hand full of M400 Smart Glasses to support technicians with remote guidance and training, the customer placed a follow-on order that was recently delivered for broader deployment of M400 Smart Glasses.
The second company is leading global provider of pharmaceutical air transportation solutions and after a rapid and successful proof of concept evaluation using one M400 Smart Glasses to support technicians with remote guidance and training, the company placed a follow-on order for many more M400 Smart Glasses that was recently delivered.
"Over the last few quarters, we have witnessed many customers both large and small within the enterprise smart glasses industry moving faster between pilot evaluation and volume deployments into their operations. These two customers are proof points and prime examples of how Vuzix Smart Glasses are being effective out of the box to deliver remote guidance and training to provide sizable benefits for our customers," said Paul Travers, Vuzix President and Chief Executive Officer. "We look forward to supporting these customers as they continue to deploy Vuzix Smart Glasses across their operations."
In addition to these two direct customers, Vuzix also received a follow-on M400 Smart Glasses order (unit total not disclosed due to competitive reasons) from Brochesia, a software solution provider based in Italy that sells smart glasses based solution into enterprise to support manufacturing, healthcare, field service and logistics.
After successfully piloting the Vuzix M400 Smart glasses, Brochesia will be delivering devices to enterprise end customers to be deployed in support of industrial production, construction, transportation and the marine industry.
"The Vuzix M400 Smart Glasses powered by the Brochesia software suite have been well received by our customers and we are pleased to see them moving from forward from pilots to production," commented Claudia Simon, Chief Operating Officer of Brochesia.
"The Brochesia software platform with the Vuzix M400 Smart Glasses are being put to work across multiple enterprise verticals," said Paul Travers, Vuzix President and Chief Executive Officer. "Vuzix looks forward to supporting Brochesia's as they continue to roll out their Vuzix Smart Glasses-based solution across their extensive customer base."
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 179 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 2020 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 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 the Vuzix Smart Glasses, our business opportunities with the above mentioned firms, along the ultimate success and future business opportunities with these firms, 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.
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, Suite A, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com www.vuzix.com
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