MicroVision, Inc. (NASDAQ: MVIS), a leader in innovative ultra-miniature projection display and sensing technology, has received a USD 6.7m order for its small form factor display engine (model PSE-0403-103) from an Asian electronics device manufacturer, the company said.
The customer plans to embed the MicroVision display engines in smartphones.
The electronics Original Equipment Manufacturer (OEM) plans to launch the smartphone product later this year in China and other markets where it has existing distribution of its products.
Currently MicroVision expects to begin shipping engines to the OEM in the second quarter of 2017 with a large majority of the units shipping by the end of 2017. Actual timing of shipments of the PSE-0403-103 to this OEM will be finalized in line with the OEM´s product launch timing. Other details of the product or agreement between MicroVision and the OEM are confidential.
MicroVision is the creator of PicoP scanning technology, an ultra-miniature laser projection and sensing solution based on the laser beam scanning methodology pioneered by the company. Its platform approach for this advanced display and sensing solution means that it can be adapted to a wide array of applications and form factors.