Shipments of M300 Smart Glasses to Commence in November Pursuant to Expected Regulatory Approval
SANTA MONICA, CA, Nov. 17, 2016 /PRNewswire/ - Financial Press covers Vuzix Corporation:
Vuzix Corporation (NASDAQ: VUZI), a leading supplier of Smart Glasses, Augmented Reality (AR) and Virtual Reality (VR) technologies and products for the consumer and enterprise markets, announced recently that the Company will commence commercial shipments of the groundbreaking M300 Smart Glasses this November. The announcement represents a significant milestone for the Company on its path bring its next generation flagship product to the global marketplace.
The market for advanced Smart Glasses like the M300 is expected to grow exponentially. The number of US workers who use Smart Glasses is anticipated to increase from 400,000 in 2017 to over 14 million by 2025. Enterprises will spend over $30 billion on Smart Glasses hardware over the same period. Vuzix anticipates that its M300 Smart Glasses will capture a significant portion of this rapidly growing industry.
The M300 recently won the prestigious Compass Intelligence's Enterprise Wearable Device of the Year award. With more powerful features and an advanced ergonomic design, the new Vuzix M300 enables enterprise users to operate in an increasing number of situations and accomplish even more complex use cases. The next generation Smart Glasses are designed to address customer feedback on earlier design of the Vuzix M100 which has been in productive use for over two years. For detailed M300 specifications, visit: https://www.vuzix.com/Products/m300-smart-glasses
The breakthrough M300 is in the final stages of regulatory testing and approval. By November 18, Vuzix expects that the testing labs will have completed the EU testing and filings, while US testing and filings are expected to fall within the following week. Once filings have been made for a given geographical area, commercial volume shipments can commence. Vuzix expects this to occur before the end of November in all major markets.
Vuzix currently has pending orders from hundreds of unique VAR customers for the M300, each of whom is building a business around Vuzix Smart Glasses for the Enterprise markets. The Company partners with some of the largest technology leaders in the world such as Intel, Hewlett Packard, Lenovo, among many others.
With significant excitement surrounding the expected regulatory approval within the coming weeks, the Company expects that the demand for the M300 will likely outpace the supply of the initial launch. Vuzix will soon unveil a pre-order program for the full public production launch expected to take place this month.
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SOURCE Financial Press Media Group Inc.