Monday July 20, 7:15 pm Eastern Time
SOURCE: Microvision, Inc.
<<Microvision Demonstrates Laser Projection Television
Company sees future for pocket-sized projectors>>
SEATTLE, July 20 /PRNewswire/ -- Microvision, Inc. (Nasdaq: MVIS - news, MVISW - news) today announced it has successfully conducted its first demonstrations of a laser projection television display. The full color 17'' image projected by the prototype system has the resolution of a VGA computer monitor and provides full motion video. With additional development, the company plans to increase the size of the projected image and to improve resolution to extremely high levels, exceeding high definition television (HDTV). Additionally, with advances in high powered miniature laser technology, coupled with Microvision's current miniature image scanner, the company ultimately envisions that the entire system could become pocket-sized.
The system operates using the same principles as the company's patented Virtual Retinal Display(TM) (VRD(TM)) technology, which rapidly scans a single beam of light to project a full motion image into the user's eye.
''This application makes great use of Microvision's core micro-scanning display technology and is a natural extension of our core business,'' said President and CEO Rick Rutkowski. ''Our retinal scanning displays will continue to be our central focus, but this application reflects our plans to leverage our display and imaging technology to enable a breadth of applications.
''This type of projection system has already seen considerable interest from customers in the defense, medical and entertainment fields,'' Rutkowski added. ''Many of the same customers who are planning uses for head-mounted or personal displays also have needs for heads-up displays or projection display systems, especially ones that can approach the visual quality of photographic film. We're merely broadening the scope of opportunity that lies ahead for the company and ensuring that the company's potential is well understood.''
Microvision Executive Vice President Steve Willey said, ''Imagine in the future pulling a projection system out of your pocket for a presentation. For your home theater, you could mount on your ceiling a system that is smaller than many conventional light fixtures. It will take advances in laser technology to achieve that, but laser technology is developing very rapidly. In the meantime, we will actively pursue applications that can derive real value from a system that uses the larger more expensive lasers that are available today.''
Laser projectors offer several advantages over other types of projection systems and cathode ray tubes, including greater control over brightness, therefore ensuring that images do not get washed out by ambient light. Polarization is not required, resulting in highly simplified optics and outstanding color saturation to be achieved. The effect is a vivid image that can be viewed from a wide range of angles. Laser projectors, like other projection displays, can be configured as rear-projection or front-projection systems.
According to Stanford Resources, Inc., a leading market research firm, the market for projection displays is estimated to grow to $11 billion by the year 2004.
John Lewis, Microvision's director of research and former 17-year veteran of Polaroid Corporation [NYSE:PRD - news], summarized the technical achievement by saying, ''Microvision is the recognized leader for scanning images directly onto the retina of the human eye. Now we've proven that our technology is ideal for projecting high-quality images onto projection screens for simulators, theaters or corporate boardrooms.
''Microvision's highly miniaturized scanning technology is also going to give us many packaging options that haven't been available to others developing laser projectors,'' he added. ''This same basic engine can project onto coated glass for heads-up displays in airplanes or automobiles and can also be easily adapted to project onto curved planes and non-uniform surfaces such as the human body within a surgical environment. The modularity of the current system allows the lasers to be located remotely so that the very small scanner housing can be easily set up and positioned. Ultimately, as laser technology advances these systems can be dramatically smaller than anything on the market today.''
Microvision's marketing and business development team anticipates it will be able to unveil the projection technology to potential development partners later this year.
About Microvision
Headquartered in Seattle, Microvision, Inc. (Nasdaq: MVIS - news, MVISW - news) is the developer of the patented Virtual Retinal Display(TM) (VRD(TM)) technology hat uses patterns of light to create images on the eye's retina, allowing the viewer to see large, full-motion images without the need for a screen. Microvision's objective is to be a leading provider of personal display products and imaging technology in a broad range of military, medical, industrial, professional and consumer applications. The company was founded in 1993. Additional information can be found at the company's website at mvis.com.
Forward-Looking Statement
The information set forth in this release includes ''forward-looking statements'' within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to the safe harbor created by those sections. Certain factors that realistically could cause results to differ materially from those projected in the company's forward-looking statements are set forth in the company's Annual Report on Form 10-KSB and Quarterly Reports on Form 10-QSB, as filed with the Securities and Exchange Commission.
SOURCE: Microvision, Inc.
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