Vuzix Receives Follow-On Order from Fortune 50 Customer to Support Supply Chain Operations
Vuzix (NASDAQ: VUZI) announced a follow-on order for its M400 Smart Glasses from a Fortune 50 customer, aimed at enhancing supply chain operations amidst global disruptions and inflation. The demand for smart glasses in logistics and retail is increasing as companies seek competitive advantages in managing supply chain complexities. CEO Paul Travers noted this order signifies further growth opportunities within this vertical. Vuzix, a leader in Smart Glasses technology with over 210 patents, is focused on supporting their largest customers' unique operational challenges.
- Follow-on order for M400 Smart Glasses from a Fortune 50 customer, indicating strong demand.
- Growing market for smart glasses in logistics and retail, enhancing competitive advantage.
- Vuzix's commitment to support large customers with specific operational challenges.
- None.
ROCHESTER, N.Y., Sept. 21, 2021 /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 a follow-on order for its M400 Smart Glasses from a Fortune 50 customer to support its supply chain operations.
Global supply uncertainties, disruptions, and inflationary forces are driving companies of all sizes to better manage their supply chain complexities. Combined with the ongoing growth of online shopping, attaining new productivity levels for product transportation, inventory management and order fulfillment will become a distinct competitive advantage. Smart glasses are becoming a cost-effective tool to facilitate these objectives and an increasing number of the world's largest firms are starting to move from trialing them to deploying them.
"Across the board, Vuzix is investing time and resources to support our largest customers within the retail, warehousing and logistics vertical that have come to Vuzix with specific use cases and operational challenges that they would like to solve with smart glasses. This Fortune 50 customer represents just one of many exciting opportunities within this vertical and Vuzix looks forward to supporting this customer to successfully scale and globally roll out our products," said Paul Travers, President and Chief Executive Officer at Vuzix.
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 210 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 2021 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 and potential future opportunities with the referenced Fortune 50 customer and other large organizations worldwide, 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
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