Kopin Corporation Expands OLED Business With New Customers, New Orders

Expanding customer base seen for high-brightness Lightning^® 720p Displays and 2K Silicon Backplane Wafers

WESTBOROUGH, Mass.--(BUSINESS WIRE)--Kopin^® Corporation (NASDAQ: KOPN), a leading developer and provider of high-resolution microdisplays and display subassemblies for defense, enterprise, industrial, consumer and medical products, announced today it has received new orders for its Organic Light Emitting Diode (OLED) displays and silicon backplane products for new customers and new applications. These competitive design “wins,” which Kopin has been working with the customers for evaluation and design-in over a period of months, are a testament to the performance advantages of Kopin’s OLED products.

Kopin commenced shipping its Lightning^® 720p OLED microdisplays to a new customer for use in thermal imaging viewfinders — an application where Kopin sees significant interest in its microdisplays. The 0.49-inch-diagonal 720p display incorporates Kopin's ColorMax^® technology for superb color fidelity (greater than 90% sRGB average) and a duo-stack OLED structure for high current efficiency (over 10 candela per ampere). The power consumption of 720p displays is very low, typically ~ 160 mW at 2000 nits.

Separately, Kopin has received an order from a new customer for its Lightning 2K OLED backplane wafers. Kopin's Lightning 2K backplane is the critical building block to manufacture 1-inch diagonal OLED microdisplays with 2048 x 2048 resolution that can run at up to 120 Hz with low power consumption. Kopin’s backplane, designed for high-resolution, mid-to-high-end VR or AR applications is the “brain” of the finished 2K x 2K microdisplay.

“We believe these new orders confirm the competitive advantages of our highly advanced backplane designs and display performance,” said Dennis Natale, VP/GM of Kopin OLED Displays. “They also validate the power of our fabless business model, under which we either sell finished OLED microdisplays to our customers by working with our OLED foundry partners or sell our highly advanced, proprietary backplane wafers to OLED OEM partners, who complete the microdisplays for sale to their own customer base. This business model provides more flexibility to meet customer demands without incurring the major fixed capital investment associated with the OLED deposition process. We continue to work on design wins with other new customers.”

About Kopin

Kopin Corporation is a leading developer and provider of innovative display and optical technologies sold as critical components and subassemblies for military, industrial and consumer products. Kopin's technology portfolio includes ultrasmall Active Matrix Liquid Crystal displays (AMLCD), Liquid Crystal on Silicon (LCOS) displays and Organic Light Emitting Diode (OLED) displays, a variety of optics, and low-power ASICs. For more information, please visit Kopin's website at www.kopin.com.

Kopin, ColorMax and Lightning are trademarks of Kopin Corporation.

Forward-Looking Statements

Statements in this press release may be considered "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the safe harbor created by such sections. Words such as "expect," "believe," "can," and "will," and variations of such words and similar expressions, and the negatives thereof, are intended to identify such forward-looking statements. We caution readers not to place undue reliance on any such "forward-looking statements," which speak only as of the date made, and advise readers that these forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, estimates, and assumptions by us that are difficult to predict. These forward-looking statements may include statements with respect to: Our belief that these new orders confirm the competitive advantages of our highly advanced backplane designs and display performance . Various factors, some of which are beyond our control, could cause actual results to differ materially from those expressed in, or implied by, such forward-looking statements. Kopin disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release, except as may otherwise be required by the federal securities laws. These forward-looking statements are only predictions, subject to risks and uncertainties, and actual results could differ materially from those discussed. Important factors that could affect performance and cause results to differ materially from management's expectations are described in Part I, Item 1A. Risk Factors; Part II, Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations; and other parts of our Annual Report on Form 10-K , or as updated from time to time our Securities and Exchange Commission filings.