ROCHESTER, N.Y., May 12, 2014 /PRNewswire/ -- Vuzix® Corporation (OTCQB: VUZI), a leading supplier of Video Eyewear and Smart Glasses products in the consumer, commercial and entertainment markets, announced today that the Company will be attending and showcasing its latest products at the Wearable and Flexible Technologies World 2014 Conference in China. On behalf of Vuzix, Vice President of Business Development, Dan Cui will be chairing the event, delivering a keynote and sitting on a panel. The Wearable and Flexible Technologies World 2014 Conference (WFTW 2014) will be held at the Crown Plaza Shanghai in China on May 14-16, 2014.
Vuzix will be a key exhibitor at the conference and will showcase its award-winning M100 Smart Glasses and M2000AR waveguide based HD eyewear product. Vuzix is also giving away two pairs of M100 Smart Glasses as prizes.
"The WFTW 2014 is really the first time that we have pushed ourselves into the China marketplace and we are very excited by the opportunity," said Vuzix CEO and President Paul J. Travers. "China offers a huge potential on many fronts and the numbers indicate that there is a big push for wearable technology and augmented reality in China. The conference will be a great platform to interact with our international partners and with potential customers. Additionally, we look to support fans of our technology and products and show our support for Dan as he takes on an important role at the conference."
The global wearable device market is poised for large growth in the coming years due to the growing popularity of the technology. A research institute predicted that the wearable device market will reach $20.6 billion in 2018, with worldwide shipments totaling 191 million units. In China, wearable devices are expected to reach 40 million unit sales by volume and CNY11.49 billion ($1.9 billion) market scale in 2015.
About WFTW 2014
DEMAND-LED is organizing the Wearable and Flexible Technologies World 2014 & 2nd Annual Global AR Summit which will be held on May 14-16, 2014 in Shanghai. The conference will focus on wearable technologies, including flexible electronics and augmented reality technologies and brings together major companies and specialists on the industry chain to discuss latest technologies, current challenges, various applications and explain the big trend of the next decade.
About Vuzix Corporation
Vuzix is a leading supplier of Video Eyewear and Smart Glasses products in the consumer, commercial and entertainment 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 virtual and augmented reality. Vuzix holds 36 patents and 12 additional 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 2014 and several wireless technology innovation awards, among others. Founded in 1997, Vuzix is a public company (VUZI.QB) with offices in Rochester, NY, Oxford, UK and Tokyo, Japan.
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 potential of the China marketplace and customers there for Vuzix products, the value of the IP portfolio, among other things, and the Company's leadership in the Video Eyewear 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.
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SOURCE Vuzix Corporation