Vuzix Highlights its Growing Augmented Reality Smart Glasses Patent Portfolio for Next Generation Smart Glasses

Rhea-AI Summary

On July 13, 2020, Vuzix Corporation (NASDAQ: VUZI) announced a significant expansion of its patent portfolio, growing from 90 to 166 patents and pending patents in the last 36 months. These patents focus on innovations for wearable computers and augmented reality (AR) smart glasses, including advanced waveguides and laser display integrations. This enhancement aims to bolster Vuzix's position in the AR market and is crucial for future smart glasses development, as stated by President Paul Travers.

Positive

• Increase in patent portfolio from 90 to 166 in 36 months.
• Focus on advanced technologies like waveguides and micro LED integration strengthens competitive position.
• Patents support the development of next-generation smart glasses.

Negative

• None.

ROCHESTER, N.Y., July 13, 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 the recent granting of a series of patents and patents pending, focused on wearable computer and augmented reality (AR) smart glasses.  The Vuzix patent portfolio has grown from 90 patents and patents pending to 166 over the last 36 months. The portfolio encompasses a range of IP including waveguides with holographic optics, laser and micro LED display integration, fashion forward industrial designs and optics that support low cost single layer waveguides to multilayer large field of view solutions.   

"Vuzix IP includes our patent portfolio and the secret sauce for the manufacturing in volume of the IP contemplated.  This portfolio further expands Vuzix protection of our augmented reality technology and is cornerstone to delivering our current and most importantly our next generation smart glasses under development," said Paul Travers, Vuzix President and Chief Executive Officer.

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 166 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 growing intellectual property portfolio, the business value of and opportunities with this IP, 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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SOURCE Vuzix Corporation

FAQ

What recent patent developments has Vuzix Corporation announced?

Vuzix announced an increase in its patent portfolio from 90 to 166 patents and pending patents, enhancing its AR technology offerings.

How does Vuzix's patent portfolio affect its stock performance?

The expansion of Vuzix's patent portfolio may positively influence investor confidence, supporting future growth and innovation in AR smart glasses.

What technologies are included in Vuzix's new patents?

The patents cover innovations such as waveguides with holographic optics, laser and micro LED display integration, and design advancements.

When did Vuzix report its patent portfolio growth?

Vuzix reported the growth of its patent portfolio on July 13, 2020.

How many patents does Vuzix currently hold?

As of July 2020, Vuzix holds 166 patents and patents pending.