WiMi Announces that its Holographic AR Product "WiMi HoloAR HUD" Has Been Approved by the FCC to Enter the U.S. Market

Rhea-AI Summary

WiMi Hologram Cloud Inc. (Nasdaq: WIMI), a leading provider of holographic AR technology, announced FCC certification for its electric vehicle holographic AR product, WiMi HoloAR HUD, allowing entry into the U.S. market. This follows the November 2020 approval of its head-mounted display, WiMi Hologram Soft Light. As demand for holographic AR in the EV sector grows, WiMi plans to develop various solutions, including holographic vehicle devices and software, enhancing safety and driving experiences.

Positive

• FCC certification obtained for WiMi HoloAR HUD, enabling U.S. market entry.
• Second FCC approval for a holographic product, indicating regulatory progress.
• Increased market demand for holographic AR technology in EVs could lead to revenue growth.

Negative

• None.

BEIJING, April 1, 2021 /PRNewswire/ -- WiMi Hologram Cloud Inc. (Nasdaq: WIMI) ("WiMi" or the "Company"), a leading Hologram Augmented Reality ("AR") Technology provider, today announced that its electric vehicle ("EV") holographic AR product "WiMi HoloAR HUD" has obtained a Federal Communications Commission ("FCC") certification to enter the U.S. market. The certification documents state that the exterior designs, data transmission protocols, and radiation patterns of "WiMi HoloAR HUD" have been tested and certified by the FCC.

In November 2020, the holographic head-mounted display product ("head-mounted display") "WiMi Hologram Soft Light" has been approved by the FCC to enter the U.S. market, and the holographic AR product "WiMi HoloAR HUD" is the second product that has been approved by the FCC to enter the U.S. market.

The U.S. FCC issues its FCC certifications for electronic products. Foreign products, including radio application products, communications products, and digital products, are required to obtain the FCC's approval prior to entering the U.S. market. 

With the rapid development of the EV and autonomous driving industries, the demands from both consumers and automakers for holographic AR technology applications have increased significantly. To better satisfy this market demand, the Company launched the "WiMi HoloAR HUD." The "WiMi HoloAR HUD" has several features, including optical processing, image processing, voice interaction, night vision imaging, AR, ADAS, and cloud services. The "WiMi HoloAR HUD" can use these functions to read a vehicle's onboard diagnostics data, run apps in the background, such as WeChat and Gaode Map (or Mapbox in overseas markets), display tire pressure, as well as enable Bluetooth connection, voice control, big data analysis, and more. In addition to creating a safer driving environment, these capabilities will also generate more opportunities for WiMi to provide additional value-added automotive services to vehicle owners.

With the technological advancement of modern automotive cockpit electronics and the growing number of connected and self-driving cars, the market space for onboard HUD products is immense and expected to continue growing in the future. In addition, the market demand for automotive holographic AR navigation, holographic AR windshields, holographic AR rear-view mirrors, onboard holographic AR communications, and other holographic AR features is increasing rapidly. To fulfill the surging demand for holographic EV applications, the Company plans to develop multiple solutions, covering holographic vehicle devices, holographic vehicle chips, and holographic vehicle software. Going forward, the Company will remain committed to integrating holographic hardware and software solutions to develop more holographic AR application products for the EV industry.

About WIMI Hologram Cloud Inc.

WiMi Hologram Cloud, Inc.(NASDAQ: WIMI), whose commercial operations began in 2015, is a holographic cloud comprehensive technical solution provider that focuses on professional areas including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation and others. Its services and holographic AR technologies include holographic AR automotive application, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication and other holographic AR technologies. For more information, please visit http://ir.wimiar.com.

Safe Harbor / Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Among other things, the business outlook and quotations from management in this press release, as well as the Company's strategic and operational plans, contain forward−looking statements. The Company may also make written or oral forward−looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC") on Forms 20−F and 6−K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward−looking statement, including but not limited to the following: the Company's goals and strategies; the Company's future business development, financial condition and results of operations; the expected growth of the AR holographic industry; and the Company's expectations regarding demand for and market acceptance of its products and services. Further information regarding these and other risks is included in the Company's annual report on Form 20-F and current report on Form 6-K and other documents filed with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable laws.

Contacts

WIMI Hologram Cloud Inc.
Email: pr@wimiar.com

ICR, LLC
Jack Wang
Tel: +1 (646) 975-9495
Email: wimi@icrinc.com

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SOURCE WiMi Hologram Cloud Inc.

FAQ

What is the significance of the FCC certification for WIMI's products?

The FCC certification allows WiMi's HoloAR HUD product to enter the U.S. market, which is crucial for expanding its sales opportunities.

When did WiMi announce the FCC certification for HoloAR HUD?

WiMi announced the FCC certification for the HoloAR HUD on April 1, 2021.

What are the features of the WiMi HoloAR HUD?

The WiMi HoloAR HUD includes optical processing, image processing, voice interaction, night vision imaging, AR, and ADAS functionalities.

How does the FCC approval impact WIMI's business strategy?

The FCC approval supports WiMi's strategy to meet increasing consumer and automaker demands for AR technology in the rapidly growing EV market.

What was the first product approved by the FCC for WiMi?

The first product approved by the FCC was the WiMi Hologram Soft Light head-mounted display, which received approval in November 2020.