MVIS - one of my long term favorites has this news. Not sure how it will play out, but quite a nice surprise to me.
Monday June 19, 6:30 am Eastern Time
Company Press Release
SOURCE: Microvision, Inc.
Microvision Announces Plans to Develop Scanning Readers for
Web-Enabled Mobile Products
Company Says Devices Equipped With Silicon Micromirrors Will Merge Print And Electronic Media
BOTHELL, Wash., June 19 /PRNewswire/ -- Microvision, Inc., (Nasdaq: MVIS - news) announced today that its Imaging Solutions Group will develop and
market miniature scanning engines, that will enable hand-held and mobile devices to link to the Internet, by allowing them to electronically ``read'' information from a
printed page. Based on the scanned information, the device will initiate a link to related web content or to back-end transaction processing. Consumers will be able
to use the scanner-enabled devices to purchase items, pay bills and upload media content by simply aiming the scanning beam at a code on a printed page.
Scanning devices are expected to take the form of key fobs or hand-held peripherals connected to computers, set top boxes or mobile devices; as well as
microscanners embedded into cell phones, PDAs and television remote controls.
The company says that its miniature scan engines will make use of proprietary silicon micromirror technology in order to make the devices smaller, more robust and
less expensive than currently available laser scanning engines, while providing the accuracy and ease of use, commonly associated with laser-scanning bar code
readers.
Microvision expects to be able to ship sample quantities of consumer-ready scan engines to customers during the first half of next year with production quantities
available by the second half of the year. Initial production is expected to target stand-alone devices that can be connected to existing cell phones, PDAs and PCs
with subsequent introduction of fully integrated units. The company believes that the potential available market is for tens of millions of devices annually.
Rick Rutkowski, Microvision's President and CEO states, ``The idea that a printed symbol can be scanned to link information in printed media to the Internet is
potentially the 'killer application' for mobile devices. This technique literally merges magazines, newspapers and catalogs with the Internet world of distributed
electronic information and media. It's a dramatic new twist on the whole idea of 'point and click,' in which the entire world of printed media becomes a pervasive,
familiar and intuitive part of the user interface.
``The recent announcement by Motorola, Symbol Technologies, Connect Things and AirClic of a $500 million joint venture to develop this market is very
encouraging. It reinforces the notion that a huge market potential exists for miniature low-cost scan engines to be integrated into all manner of web-enabled devices
as electronic readers for printed content, and that this market could emerge quite rapidly. Because of our significant investment in unique and proprietary micro
scanning technology, we are extremely well positioned to deliver scan engine solutions into this space. We have already seen very keen interest in our solutions from
prospective customers and partners. These products are going to be a great complement to our miniature retinal scanning displays, which are also aimed at the
mobile Internet market.''
Microvision uses proprietary Micro Electro Mechanical Systems (MEMS) technology to form precision micromechanical scanning devices in silicon by etching the
material to form a miniature armature and a tiny mirror that can be electronically actuated. The technique produces very small devices compared to existing scanners,
and enables the potential for high-volume, low-cost manufacturing. Based on its initial design, the company estimates that several hundred scanners can be produced
on a single silicon wafer, and that these numbers will increase.
The low mass of the scanners will also enable devices with reduced power consumption, and improved shock and vibration tolerance compared to existing bar code
scanners. Microvision says that its micro scanner can also overcome the limitations of current non-laser-based readers, which suffer from motion blur and poor depth
of focus.
Microvision's MEMS scanning technology, which has been optimized to support full-motion high-resolution video for its Retinal-Scanning Display products, already
operates at much faster scan rates than conventional bar code scanners, and can scan in two dimensions. The combination makes the technology a suitable solution
for reading all types of one-dimensional and two-dimensional codes, as well as images and text (including text-based links), which conventional one-dimensional
laser scanners cannot do. Two-dimensional codes can enable printed media to contain significantly more data than linear bar codes.
Chris Wiklof, Business Development Manager for Microvision's Imaging Solutions Group comments, ``Microvision's MEMs scanners are ideally suited for
applications in compact consumer electronics devices because of their small size and their inherent suitability for high-volume, low-cost, wafer-scale fabrication.
``In order to be consumer-ready, a scanning device has to be, not only inexpensive, but also easy to use. Our product direction is aimed squarely at enabling a
unique combination of low cost, small size and ease of use. We anticipate that this combination of features could also have a big impact on the existing market for
linear and 2D bar code scanners and integrated portable data terminals.
``Our initial focus is to create a low-cost, ultra-low power, compact scanner for scanning linear (one-dimensional) bar codes. We have developed proprietary scan
engine designs around adaptations of our existing MEMS devices to achieve this. Going forward, we believe that Microvision's significant lead in, high-resolution,
two-dimensional scanning can become very important. Our unique ability to read all types of two-dimensional symbols and text will allow us to be ''agnostic`` with
regard to how information is encoded in print, so customers designing media, containing printed links, will be able to chose among alternative methods.''
Microvision's Imaging Solutions Group was formed earlier this year to develop new applications and markets for the company's proprietary scanning and imaging
technology, which was developed to support the real-time, high-resolution, requirements of the company's retinal scanning display technology. The company believes
that a broad range of imaging applications can take advantage of the high performance, miniature size and mass fabrication potential of the underlying components
and optical systems technology.
About Microvision
Headquartered in Bothell, Wash., Microvision, Inc. is the developer of the patented Retinal Scanning Display technology and a world leader in micro miniature
optical scanning technology for display and imaging applications. The company's technology has application in a broad range of military, medical, industrial,
professional and consumer information products. Additional information can be found at the company's Web site 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-K and Quarterly Reports on Form 10-Q, as filed with the
Securities and Exchange Commission.
SOURCE: Microvision, Inc.
|
