Vuzix Delivers Volume Smart Glasses Order to Tabbara Electronics

Rhea-AI Summary

Vuzix Corporation (NASDAQ: VUZI) announced the successful shipment of smart glasses to Tabbara Electronics, a key distributor in the Middle East and North Africa. This volume order aims to enhance productivity and efficiency for Tabbara's clientele across various sectors including public safety and telecommunications. Loubna Tabbara, Sales & Marketing Manager, highlighted the partnership's significance in providing advanced wearable technology. Paul Travers, CEO of Vuzix, pointed to the untapped market opportunities underscored by Tabbara's established presence. The collaboration not only expands Vuzix's product reach but also reinforces its position as a leader in augmented reality solutions.

Positive

• Successful shipment of smart glasses to Tabbara Electronics indicates growing demand.
• Partnership with Tabbara expands Vuzix's market reach in the Middle East and North Africa.
• The collaboration enhances Vuzix's position in the augmented reality sector.

Negative

• None.

ROCHESTER, N.Y., April 26, 2023 /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 it has shipped against a volume order for Vuzix smart glasses from Tabbara Electronics, a leading distributor of cutting-edge technology solutions, serving customers across the Middle East and North Africa.

Since becoming a Vuzix distributor, Tabbara Electronics is helping its customers enhance their productivity and efficiency with Vuzix smart glasses while enabling them to work, learn and interact with the world around them in new and innovative ways. Tabbara Electronics serves a wide range of market verticals, including public safety, utilities, aerospace, telecommunications, oil & gas, entertainment, services management and medical.

Loubna Tabbara, Sales & Marketing Manager of Tabbara Electronics, expressed her excitement about the company's partnership with Vuzix, stating, "We are thrilled to offer our customers the latest advancements in wearable display technology through our collaboration with Vuzix. This strategic partnership is enabling us to expand our product offerings and provide our customers with innovative solutions that meet their evolving needs."

"We are excited to see Tabbara Electronics' success since joining with us as they are a long-term, proven player operating in several key geographies that represent heretofore relatively untapped market opportunities for us," said Paul Travers, President and CEO of Vuzix. "We look forward to further supporting their efforts to help their customers improve productivity and gain competitive advantages within their respective industry verticals."

About Tabbara Electronics

Tabbara Electronics is a leading distributor of cutting-edge technology solutions, serving customers across the Middle East and North Africa. With over 50 years of experience in the industry, Tabbara Electronics has built a reputation for providing high-quality products and exceptional customer service. The company's portfolio includes a wide range of products in the fields of communication, security, audio-visual, and more. Tabbara Electronics is committed to staying at the forefront of the industry and bringing the latest innovations to its customers. For more information, visit www.tabbara-electronics.com.

About Vuzix Corporation

Vuzix is a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products for the enterprise, medical, defense and consumer markets. The Company's products include head-mounted smart personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality, as well OEM waveguide optical components and display engines. Vuzix holds more than 275 patents and patents pending and numerous IP licenses in the fields of optics, head-mounted displays, and augmented reality Video Eyewear field. Moviynt, an SAP Certified ERP SaaS logistics solution provider, is a Vuzix wholly owned subsidiary. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2023 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; Munich, Germany; and Kyoto 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 and future opportunities with Tabbara and its customers, 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 the recent partnership announced by Vuzix (VUZI)?

Vuzix announced a partnership with Tabbara Electronics, involving the shipment of smart glasses to enhance productivity for their clients in the Middle East and North Africa.

When did Vuzix announce the shipment of smart glasses?

Vuzix announced the shipment on April 26, 2023.

How does the partnership with Tabbara Electronics benefit Vuzix (VUZI)?

The partnership benefits Vuzix by expanding its market reach and reinforcing its leadership in augmented reality solutions.

Which sectors will benefit from Vuzix's smart glasses through Tabbara Electronics?

Sectors such as public safety, telecommunications, and utilities will benefit from Vuzix's smart glasses through Tabbara Electronics.

What geographical markets is Vuzix (VUZI) targeting with Tabbara Electronics?

Vuzix is targeting the Middle East and North Africa markets through its partnership with Tabbara Electronics.