VUZI stock exploded 20% higher in after-hours trading on July 10, 2020, after the company announced a partnership with Verizon to develop 5G enabled smart glasses.
Vuzix® Corporation (NASDAQ: VUZI), (“Vuzix” or, the “Company”), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced that the Company has been selected by Verizon to co-develop a 5G-enabled Smart Glasses EMS solution for first responders and public safety. As part of the EMS Solutions Bundle Powered by Verizon 5G, Vuzix will have access to Verizon 5G specialists, engineers and Verizon’s 5G Ultra-Wideband network over the next six months to further develop, test and refine its 5G EMS Smart Glasses solution for first responders and public safety, which will be unveiled and showcased by Verizon in January 2021 in front of a community of leaders in the Emergency Management fields and Verizon leadership.
The Vuzix M400 and soon-to-be-launched waveguide-based M4000 Smart Glasses will help provide critical information en route to an emergency event or utilized on-scene to provide 911 call data to prep for treatment. The heads-up display of the Vuzix Smart Glasses can provide equipment locations and treatment options and also overlay patient medical history, medications or alerts. For more information about Verizon’s continued commitment to invest in public safety and support first responders, please visit 5G First Responder Lab.
“The COVID-19 global pandemic has created new challenges for EMS workers on the frontline and Vuzix Smart Glasses technology, in combination with Verizon’s 5G Ultra-Wideband network, can help deliver hands-free critical patient information, telehealth and remote diagnostics solutions to assist frontline workers,” said Paul Travers, Vuzix President and Chief Executive Officer. “We’re excited to expand our relationship with Verizon and work together with them and their partners to offer a 5G EMS Vuzix Smart Glasses solution to the market for first responders and public safety.”
On July 7, 2020, Vuzix (NASDAQ: VUZI) announced that the Company has successfully delivered a customized waveguide-based optics engine pursuant to the Phase 1 non-recurring engineering (NRE) agreement announced in March 2020.
“We are pleased to report that Vuzix delivered product deliverables against Phase 1 of this NRE agreement ahead of schedule and we believe that this customer has potential for greater NREs in subsequent phases before an accepted final product design leads to a volume production order for Vuzix,” said Paul Travers, President and Chief Executive Officer at Vuzix.
On July 2, 2020, Vuzix announced that its M400 Smart Glasses has received CCC certification for sale in China.
Vuzix resellers in China are expected to target COVID-19 business continuity support opportunities in China, as well as other smart glasses applications. With an outstanding camera that provides the best field service and vision-picking capabilities on the market, a ruggedized mechanical design that is ideal for users working in harsh environments, and two-meter drop-tested and IP67-rated for waterproof and dustproof operation, the M400 has become a benchmark for leading-edge performance in the smart glasses industry. The Vuzix M400 Smart Glasses also features Chinese native voice recognition processing and fully localized screens.
“China, in particular, should represent a significant market opportunity for Vuzix and we are ready to hit the ground running immediately to address the needs of our global customers with operations in China that wish to deploy past their small pilots,” said Paul Travers, President and Chief Executive Officer of Vuzix. “Worldwide travel restrictions and quarantine requirements related to COVID-19 continue to help expedite purchasing decisions related to smart glasses. Our M400, combined with remote support applications like Vuzix Remote Assist, Zoom, WebEx Teams, Ubimax Frontline and many others, represents an effective solution to provide business continuity during the new normal. When you can’t send a person, you just send Vuzix Smart Glasses.”