Vuzix Release Business Outlook for 2017
Company hopes to expand production of M300 Smart Glasses.
VRFocus have covered a lot of Vuzix’s recent activities. They are in the middle of a big push of their new M300 Smart Glasses technology, partnering with several other companies to provide their product and services. Vuzix has now revealed how it hopes to continue to grow over 2017.
Vuzix announces in the report that they will be moving much of their manufacturing to Asia for further flexability. The company has also received approval to begin distribution of the M300 Smart Glasses in Japan, which should begin shipping in Q2.
A $1.1 million (USD) deal with Toshiba is also announced within the report. Toshiba are working with Vuzix on a customised version of the Smart Glasses, which is expected to begin production in the Autumn.
The report identifies several priorities for the company for 2017. Namely:
- Increase M300 production with a goal of achieving 1,500 units a month in Q2, while completing our planned transition of manufacturing to Asia to lower costs and further increase our production capacity
- Broaden our enterprise distribution channels through additional VARs (value added resellers) and other strategic agreements
- Deploy automated waveguide replication equipment that will allow for volume production along with improved precision and performance
- Broaden intellectual properties including the filing of numerous new patent applications
- Prioritize, support and actively engage new interests received from select OEMs
- Manage the growth in operating costs, so that along with our expected increase in revenues we can minimize the funds required for operations as we move towards profitability
The report concludes with the following statement from Vuzix: “We should be at the forefront of helping to evolve the world of mobile computing and AR with technology that connects the digital world to the real world through fashionable AR smart glasses. We believe Vuzix is now positioned well on the capital front to execute on our plans in 2017 and grow our business.”
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