ROCHESTER, N.Y., Dec. 3, 2013 /PRNewswire/ -- Vuzix Corporation (OTCQB: VUZI), a leading supplier of Video Eyewear and Smart Glasses products, today announced it has completed all production tooling and regulatory testing and has begun shipments of its award winning M100 Smart Glasses. Production units are first being delivered to M100 registered developers and existing backorders. As a result, the M100 is now available for non-developer orders on the Vuzix website http://www.vuzix.com/augmented-reality/products_m100ag.html. Volume shipments to channel and new direct customers are expected to commence in December.
"We are excited to begin shipping the M100 Smart Glasses. The time for wearable computing devices is upon us and we believe what Vuzix offers is the most complete and innovative in the enterprise based smart glasses wearable technology category" said Paul Travers, President and CEO of Vuzix. "Due to strong demand, last spring Vuzix sold out of our gold developer kits, so after many months of working with our first developers and initial hardware, we have incorporated numerous enhancements to the M100. We are truly excited about the possibilities from this product and look forward to working with our growing developer community and enterprise customers who will be leveraging the M100's capabilities to boost productivity and streamline communications."
ABI Research forecasts the wearable computing device market to grow to 485 million annual device shipments by 2018 with more than 75 million of these to be in the smart glasses category. Smart glasses and other wearable devices are expected to be worth over $1.5 billion by 2014 according to Juniper Research.
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 2013 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 and include the completion of the M100 for volume manufacturing, distribution channel product demand, future business, work of developers, 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.