MicroVision Receives $14.5 Million in Component Orders

Date Announced: 16 Mar 2015

Delivery to Fortune Global 100 customer scheduled to begin in the second half of 2015.

REDMOND, Wash.--(BUSINESS WIRE)--MicroVision, Inc. (MVIS), a leader in innovative ultra-miniature projection display technology, today announced it has received orders totaling $14.5 million for components for its Fortune Global 100 customer.

MicroVision plans to begin shipment of components for these orders in the second half of 2015 and expects fulfillment to continue into 2016. MicroVision and its Fortune Global 100 customer recently entered into a licensing agreement whereby MicroVision granted a non-exclusive license to its patented PicoP® display technology to the Fortune Global 100 company.

The components MicroVision is selling to its customer are expected to be incorporated into display modules the Fortune Global 100 has developed. MicroVision will also be entitled to royalty payments upon any sales by its customer of the display modules. MicroVision is currently fulfilling component orders received in the second half of 2014 for this same customer.

Source: MicroVision

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