ROCHESTER, N.Y., March 17, 2021 /PRNewswire/ -- Vuzix®
Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a
leading supplier of Smart Glasses and Augmented Reality (AR)
technology and products, today announced that the Company has
received an initial deployment order totalling approximately
$400,000 for Vuzix M400 Smart Glasses
from a Fortune 100 US-based insurance and financial services
company. This initial deployment order, received after more than 18
months of piloting, is for immediate delivery with the potential
for subsequent deployment orders in the future as this customer
expands its use of smart glasses.
The insurance industry has been an active embracer of new
technologies over the past several years to streamline operations
and enhance profitability. Vuzix Smart Glasses will be used by this
company's fleet of insurance agents to help them in the field when
they are capturing and reviewing claim-related information. The
M400's HD phase detect auto focus camera with zoom control is
ideally suited to capture and store sharp photos and 4K video for claims processing.
"We continue to see an increasing number of companies across an
expanding number of verticals selecting our industry leading M400
Smart Glasses for deployment within their organization to either
solve operational challenges encountered in the field at customer
sites or simply help maximize human capital," said Paul Travers, President and CEO of Vuzix.
About Vuzix Corporation
Vuzix is a leading supplier of Smart-Glasses and Augmented
Reality (AR) 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 augmented reality. Vuzix holds 184 patents
and 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 2021 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. For more information,
visit
Vuzix website, Twitter and Facebook pages.
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 Vuzix' existing and potential business growth opportunities with
this insurance company, the ultimate success of the M400 in this
sector, and among other things the Company's leadership in the
Smart Glasses 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.
Media and Investor Relations Contact:
Ed McGregor, Director of Investor
Relations
Vuzix Corporation
ed_mcgregor@vuzix.com
Tel: (585) 359-5985
Vuzix Corporation, 25 Hendrix Road, Suite A, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com www.vuzix.com
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SOURCE Vuzix Corporation