REDMOND, Wash.--(BUSINESS WIRE)--MicroVision, Inc. (NASDAQ:MVIS), a leader in innovative ultra-miniature projection display and sensing technology, today announced that its PicoP® scanning engine for projected display is part of a new VOGA V flagship smartphone just announced at Mobile World Congress Shanghai by Ragentek.
Ragentek, a Chinese-based smartphone manufacturer and solution company with top selling phones in China, India, Brazil and other countries, placed a $6.7 million order with MicroVision in March 2017 for a customized display engine, PSE-0403-103, to be embedded in its VOGA V smartphone. Ragentek plans to begin pre-orders for the phone immediately with delivery starting in July. To support Ragentek’s schedule, MicroVision began shipping engines at the end of June and will begin volume shipments in July.
“Ragentek has done an amazing job designing the VOGA V smartphone. It is a sleek, high performance product that addresses the consumer’s desire for slim, compact smartphones while at the same time maximizing functionality for watching video with a large, projected image,” said Alexander Tokman, President and Chief Executive Officer of MicroVision. “As soon as we began talks with the Ragentek team it was clear that they had a vision for the type of product they wanted to bring to market and a plan for getting there. We are extremely pleased they chose to partner with us and embed our PicoP scanning engine in the VOGA V.”
“When we came to MicroVision with our ideas for this product, their ability to work their engine design around our product design was a key factor in getting this product to market quickly. The mobile-first features of PicoP scanning technology such as always-in-focus images, lower power consumption and small module size were essential for us to maintain our phone design and performance standards while still extending the functionality to include high definition projected large screen images,” said Jiaming Le, Chief Executive Officer of Ragentek. “Our target customers want to have it all in a smartphone and today that means a device that is optimized for video viewing. With this engine from MicroVision, we are excited to offer a cutting-edge solution that will give our customers an experience beyond what they might expect from simply increasing the built-in screen a few centimeters.”
For its smartphone design, Ragentek required an electronics board layout that varied from the standard form of MicroVision’s PSE-0403-101 display engine. MicroVision was able to quickly design an engine that met the requirements and could be manufactured by MicroVision’s supply chain partner. This engine, PSE-0403-103, uses the same MEMS and ASICS1 components as the standard MicroVision PSE-0403-101 engine and has the same performance characteristics, including an always-in-focus, high definition image from a small, low power engine. The flexibility to meet Ragentek’s specific design requirements together with the performance that is optimized for a mobile product were key factors for MicroVision winning this business.
1 Micro-electrical mechanical systems (MEMS) and Application-specific integrated circuits (ASICS)
MicroVision is the creator of PicoP® scanning technology, an ultra-miniature laser projection and sensing solution based on the laser beam scanning methodology pioneered by the company. MicroVision's platform approach for this advanced display and sensing solution means that it can be adapted to a wide array of applications and form factors. It is an advanced solution for a rapidly evolving, always-on world. MicroVision’s business model and product line offering includes display and sensing engines, licensing its patented technology and selling components to licensees for incorporation into their scanning engines.
Extensive research has led MicroVision to become an independently recognized leader in the development of intellectual property. MicroVision’s IP portfolio has been recognized by the Patent Board as a top 50 IP portfolio among global industrial companies and has been included in the Ocean Tomo 300 Patent Index. The company is based in Redmond, Wash.
MicroVision and PicoP are trademarks of MicroVision, Inc. in the United States and other countries. All other trademarks are the properties of their respective owners.
Certain statements contained in this release, including those using words such as plans, expects or similar words and those relating to shipping schedules, future product and product applications are forward-looking statements that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those projected in the company's forward-looking statements include the following: our ability to raise additional capital when needed; products incorporating our PicoP® scanning technology may not achieve market acceptance, commercial partners may not perform under agreements as anticipated, we may be unsuccessful in identifying parties interested in paying any amounts or amounts we deem desirable for the purchase or license of IP assets, our or our customers failure to perform under open purchase orders; our financial and technical resources relative to those of our competitors; our ability to keep up with rapid technological change; government regulation of our technologies; our ability to enforce our intellectual property rights and protect our proprietary technologies; the ability to obtain additional contract awards; the timing of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products; dependence on third parties to develop, manufacture, sell and market our products; potential product liability claims; and other risk factors identified from time to time in the company's SEC reports, including the company's Annual Report on Form 10-K filed with the SEC. Except as expressly required by federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changes in circumstances or any other reason.