Program includes special M100 to M300 Migration Package
ROCHESTER, N.Y., Jan. 12, 2016 -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of video eyewear and smart glasses products in the consumer, enterprise and entertainment markets, is pleased to announce that on February 1st, 2016, the Company will begin to take pre-orders for the new Vuzix M300 Smart Glasses, scheduled to start shipping commercially in Summer 2016. The new M300 represents the next evolution of Vuzix Smart Glasses design, born from real world user feedback and industry requirements culminating from over two years productive use of Vuzix' M100 Smart Glasses predecessor. The technological advances and ergonomic flexibility of the new M300 have evolved to meet the needs of the enterprise client, and will foster large scale adoption in a wide variety of industrial applications. Further product details and a comparison video are available at Vuzix M300 Smart Glasses.
Clients will be able to purchase an M100/M300 Migration Package on the Vuzix website or directly through their Vuzix Account Manager for an effectively discounted price, subject to product availability. Clients who have pre-ordered will receive a new M100 immediately and then upon commercial shipment of the M300 in Summer 2016, will be able to exchange their M100 for the M300 at no additional cost. Clients who desire to keep the original M100 upon receipt of the M300 will be given the option to do so at a nominal additional cost.
"By taking advantage of this offer, enterprise users will be able to start earning ROI immediately with the M100, and maintain their competitive advantage over rival companies who delay," said Paul Travers, President and Chief Executive Officer of Vuzix. "Those who roll-out the M100 into production now will be able to optimize work flows, gain user acclimation and capture unanticipated gains. Then, without losing any of the current benefits of the Vuzix Smart Glasses, they will be able to add or transition to the M300, with all of its ergonomic and performance upgrades for the long term."
To aid in a seamless integration of the M300 into new client systems, as well as those currently deployed with M100s, Vuzix' certified software application partners will be invited to receive beta M300s and associated SDK (software development kit) to ensure that their software platforms will support both the M100 and M300 concurrently.
"The new Vuzix M300 is not a departure from the M100 product, but rather a migration with significantly improved ergonomics and technical features, such as hot swappable batteries, Intel Atom processor running Android 6.0, and much more, all in a ruggedized form designed specifically for industrial use," Mr. Travers continued. "Our strategy is to ensure that once the M300s arrive in production volumes, our software application partners are ready to integrate them seamlessly into our clients' systems without delay."
Pricing and associated commercial details will be available on the Vuzix website beginning Feb 1, 2016. For those clients who miss the M100/M300 Migration Package, or prefer to order only the M300, a separate Pre-Order program will be available. Pre-Orders will receive second shipment priority to the M100/M300 Migration Package clients when the M300s begin shipping in Summer 2016. Note that to support current and future M100 deployments, the commercially successful Vuzix M100 Smart Glasses will continue to be stocked and immediately deliverable beyond the release of the M300.
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 42 patents and 15 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 2015 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (VUZI) with offices in Greater 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 and its commercial production availability, among other things, and 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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