Microvision Inc (MVIS)

[starstocks]

It is Sony for sure; got this reply from Microvision today:


Thanks for your message. We are extremely pleased and gratified that laser beam scanning technology that MicroVision pioneered is being adopted by a technology leader and innovator like Sony. Sony has a strong history with projector technology, optical technology, semiconductor lasers and consumer electronics so their interest in pico projection is a significant development for the market as a whole. We have seen the announcement they issued and will have further communication related to it next week.

Regarding your question on the development agreement previously announced, here is what we sated in that announcement on the fees:

Under the agreement MicroVision is supporting the OEM’s development of a display engine based on patented PicoP display technology and includes $4.6 million in development fees to MicroVision over the next 13 months. The companies have begun commercial negotiations with the expectation that licensing and component supply agreements would constitute the next stage of engagement leading to the OEM’s introduction of commercial products. At the request of MicroVision’s OEM customer, its name and other details of the contract are being kept confidential.

As stated, those fees were for development work only. Licensing fees and component supply would be part of separate, future agreements. We are still bound by confidentiality regarding the name of the OEM customer in that development agreement and we take that obligation to maintain confidentiality very seriously.

We look forward to providing additional business updates soon.