VUZI stock rose on December 27, 2021, after the company announced an agreement with the technology giant Verizon.
Vuzix Announces Agreement with Verizon to Deliver Augmented Reality with 5G and Mobile Edge Compute
On December 27, 2021, Vuzix® Corporation (NASDAQ: VUZI), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, announced that the Company has entered into an agreement with Verizon to leverage the power of Verizon’s 5G and edge computing technologies to deliver a first-of-its-kind augmented reality experience for sports and gaming.
The agreement between Vuzix and Verizon will focus on the technology advancement and commercialization aspects of delivering immersive augmented reality training experiences powered by Verizon’s 5G Ultra Wideband service and edge compute platform and Vuzix Shield™ smart glasses, a CES® 2022 Innovation Awards Honoree. This agreement between Vuzix and Verizon will leverage a proof-of-concept program that was completed earlier this year, which demonstrated the power of Verizon’s 5G and edge computing platform to run applications at the edge of the network using Vuzix smart glasses to deliver improved response time, longer battery life and increased computing capacity.
“By leveraging Verizon’s 5G Edge and ultra-light weight AR smart glasses from Vuzix, we are delivering immersive technology in the field of sports training and fan experience,” said Brian Mecum, Vice President of Device Technology at Verizon.
“5G and edge compute are important elements to ultimately deliver low latency and optimal performance of powerful smart glasses-based applications. We’re excited to further our relationship with Verizon to leverage Verizon’s 5G Ultra Wideband network and our award winning Vuzix Shield smart glasses to deliver new cutting-edge augmented reality experiences to sports and games,” said Paul Travers, President and Chief Executive Officer at Vuzix.
Vuzix is a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company’s products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 243 patents and patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2021 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK, and Tokyo, Japan.
Vuzix Delivers its Latest Pre-Production Units for Waveguide-Based HMD System to a Global Tier-1 Aerospace Firm
On December 23, 2021, Vuzix® Corporation (NASDAQ: VUZI) announced it has received a follow on order for and delivered a new version of a customized commercial avionics waveguide-based head mounted display (HMD) system to global Tier-1 Aerospace firm.
The customized HMD waveguide and HD display engine development program with this customer has continued to expand and move toward production since it was first announced in 2018. Vuzix had previously completed multiple stages of product development and refinement with this partner through early 2021, receiving engineering awards totaling approximately $1.3 million over a multi-year period.
“We are pleased with the steady progress we have made with this large aerospace player and look forward to potentially entering into a commercial production opportunity for Vuzix beginning in 2022,” said Paul Travers, President and CEO of Vuzix. “OEM custom waveguide-based projects such as this should ultimately represent a profitable vehicle for leveraging our extensive optical expertise and IP and we look forward to announcing further production developments with this firm, as well as numerous other engineering and production opportunities with a growing list of aerospace and defense companies.”
CNH Industrial Revolutionizes Their Training Efforts in Latin America Through the Use of Vuzix M400 Smart Glasses
On December 22, 2021, Vuzix® Corporation (NASDAQ: VUZI) announced that CNH Industrial, a global leader in the capital goods sector with a wide range of products and a worldwide presence, has deployed Vuzix M400™ smart glasses within its CNH de Brazil group across its Case, NewHolland and Iveco brands for training their product dealers throughout Latin America. Local Vuzix distributor TotalPower supplied CNH with Wi-Fi routers and software in addition to Vuzix smart glasses.
The CNH Industrial Group is present in 180 countries, has more than 64,000 employees in 66 factories and 57 research and development centers. For its Latin America dealers, the use of Vuzix smart glasses for the purpose of conducting training reduced the need for students and specialists to travel by generating real-time content and a first-person view. With a strong reduction in costs and increased efficiency in the instruction process, it also allowed greater reach and participation of students, especially in distant regions of Latin America.
“The use of Vuzix Smart Glasses for training continues to grow around the world as more and more enterprise customers understand and embrace the cost and productivity improvements this application offers,” said Paul Travers, President and CEO of Vuzix. “We are pleased to keep expanding our customer opportunities in South America through our distributor TotalPower and also to count industry leader CNH among the growing list of blue-chip companies that are embracing our technology.”
Vuzix Receives Another Follow-On Smart Glasses Order from AMA to Support its Expanding Worldwide Customer Base
On December 21, 2021, Vuzix (NASDAQ: VUZI) announced the Company has received a recent further follow-on purchase order for Vuzix Smart Glasses for immediate delivery from AMA (EURONEXT GROWTH: ALAMA), a Vuzix Value-Added Reseller (VAR) and pioneer in remote assistance solutions.
AMA’s smart workplace allows experts and frontline workers to collaborate remotely via a secure software platform, perfectly tailored to each business. With seven years of proven experience in remote assistance solutions, AMA is helping medical institutions and industrial organizations of all sizes accelerate their digital transformation. AMA’s XpertEye video conferencing is currently deployed in 150 countries around the world by more than 450 customers that are using it for remote maintenance, remote support, transfer and sharing of knowledge and in-field assistance.
“Through our expanding relationships with key VAR partners such as AMA, with whom we have worked with for many years, we continue to see numerous companies across a growing number of industry verticals turning to smart glasses and embracing Vuzix solutions in particular,” said Paul Travers, President and CEO of Vuzix. “The proven productivity improvements and other benefits Vuzix smart glasses offer, such as a reduced carbon footprint and improved worker safety, should remain a driving force for the accelerating adoption of these products.”
“Frontline workers across the world can reap the full benefit of our XpertEye remote assistance solution powered by Vuzix smart glasses. We address a myriad of use cases across verticals to help the remote worker capture and share knowledge in real-time, improve first-time fix rate, and drive operational efficiency,” confirms Thomas Waendendries, VP Sales & Marketing at AMA.
📽 Vuzix CEO Drops Big Partnership HINTS on Q3 Earnings Call ($VUZI)
📈 VUZI Stock Technical Analysis
Both the long and short-term trends are negative. It is better to avoid buying stocks with negative trends. When comparing the yearly performance of all stocks, VUZI is a bad performer in the overall market: 73% of all stocks are doing better. VUZI is part of the Household Durables industry. There are 69 other stocks in this industry, VUZI did better than 40% of them. VUZI is currently trading near the lower end of its 52-week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment. There is a support zone ranging from 9.18 to 9.25. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames. There is a resistance zone ranging at 9.31. This zone is formed by a combination of multiple trend lines in multiple time frames. There is also resistance at 11.62 from a trend line in the weekly time frame. VUZI has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. We notice that large players showed an interest for VUZI in the last couple of days, which is a good sign. Click here to sign up for email alerts on when VUZI stock is a good long entry.