Microvision Inc (MVIS)

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MicroVision and WPG Holdings, the Number One Global Semiconductor Distributor, Enter Distribution Agreement for Asia

MicroVision, Inc. (NASDAQ: MVIS), a leader in innovative ultra-miniature projection display and sensing technology, and WPG Holdings (TSE: 3702) (WPG), the largest distributor of semiconductor components in Asia, today announced that they have entered into an agreement for distribution of MicroVision’s line of PicoP® scanning engines across Asia.

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WPG will distribute MicroVision’s engine products in China, Taiwan, Japan, Korea, India and Southeast Asia through its subsidiaries AIT Group, WPG Korea and South Asia. MicroVision has announced its plans to have three different PicoP scanning engines in the market in 2017 and 2018: the first engine is available now for applications that benefit from a small form factor display engine; the second engine, for which development kits began sampling this quarter, combines projected display with an interactive user interface that mimics the familiar touch screen of a smartphone or tablet; the third engine is a 3D sensing solution for mid-range LiDAR, and samples are expected to be available in the first half of 2018.

“We are intrigued by the different scanning engine products MicroVision is developing and impressed with the capabilities of PicoP® scanning technology to support multiple applications from a common technology platform,” said Frank Yeh, Chief Executive Officer of WPG. “We see great potential with this product line and are looking forward to introducing this ground breaking technology to our customers across Asia.”

“Bringing new technology to market requires strong partners, and WPG and its subsidiaries have the leadership, regional presence and demonstrated service level we were seeking in a distributor,” said Alexander Tokman, President and Chief Executive Officer of MicroVision. “As the number one semiconductor distributor in Asia with trans-national services and established customer relationships across the Asia region, this partnership with WPG can help us grow the market for our PicoP® scanning engines.”

WPG and its subsidiaries will provide sales and marketing and technical support as well as distribution services. The agreement is effective immediately.