ROCHESTER, N.Y., Jan. 13, 2017 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or the "Company"), a leading supplier of Smart Glasses, Augmented Reality (AR) and Virtual Reality (VR) technologies and products for the consumer and enterprise markets, is pleased to announce that the Company has completed, passed, and filed with the US Federal Communication Commission (FCC) all of the (FCC) emission's requirements for its next generation M300 Smart Glasses. Vuzix expects to commence shipping of the M300 Smart Glasses to customers in the USA and Canada within days of this filing. With FCC filings now in place and the recent certification for shipments to Europe completed last month, the Company is now positioned for the full commercial launch to its largest initial markets. Other major regions of the world should follow with submissions of their required regulatory filings through the first quarter of 2017, enabling Vuzix to expand its M300 offerings near worldwide.
The new Vuzix M300 represents the next generation of smart glasses, designed to address customer feedback from more than three years of productive use of the earlier M100. This field experience has led to the addition of many empowering, barrier-reducing features such as improved ergonomics, modern security capabilities, enhanced Wi-Fi and Bluetooth connectivity, and industry leading video streaming. These improvements are just some of the many that allow the M300 to be a central communications platform to and from a client's remote workforce, connecting their corporate data and IOT field devices in real time to the people in the field who need them.
The work over the last six months to establish the Vuzix VIP application software partner program has resulted in a significant pipeline of customer budgeted and approved projects awaiting the arrival of the M300. Vuzix will begin with production M300 shipments to these EU and US VIP partners who have been pre-allocated units for immediate deployment to their existing client base. In addition, we have many orders from customers that have taken advantage of the M100/M300 migration program and/or placed pre-orders for the M300. These order pipelines are significantly greater than when the M100 launched and the Company expects that it will continue to enjoy robust growth in smart glasses revenues, as clients accelerate volume deployments. "We are now set up to ship the M300 to the hundreds of US customers that represent the beginnings of volume roll outs," said Paul Travers, President and Chief Executive Officer at Vuzix.
About Vuzix Corporation
Vuzix is a leading supplier of Smart-Glasses, Augmented Reality (AR) and Virtual Reality (VR) 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 virtual and augmented reality. Vuzix holds 49 patents and 43 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 2017 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.
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 new M300 Smart Glasses, their technological advancements and proposed features, customer demand, their market success, and among other things, the Company's leadership in the Video Eyewear, VR 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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