Kopin Provides Industrial Design Solutions, Key Components and
Investment for Lenovo New Vision
Lenovo Capital and Incubator Group (LCIG), the global technology
industry fund of Lenovo Group, and Kopin Corporation (Nasdaq: KOPN),
a leading developer of innovative wearable computing technologies and
solutions, today announced they formed a joint venture, Lenovo New
Vision, a new subsidiary of LCIG. Lenovo New Vision focuses on AR smart
headsets for a broad range of enterprise applications. Under the terms
of the agreement, Kopin will provide a small capital investment,
industrial design solutions, and know-how to utilize key Kopin
components to Lenovo New Vision, including the micro-displays, optics,
software and Whisper® Voice Chip.
LCIG President George He said, “AR/VR is the next generation technology
that will change the world after PC Internet and mobile Internet. It is
a required technology investment direction for virtually every
enterprise. We truly value the cooperation with Kopin, and believe that
this cooperation can further accelerate the growth of the enterprise AR
market by bringing users optimized products and services.”
“We are very excited to enter into a strategic relationship with
Lenovo,” said Dr. John C.C. Fan, Kopin’s President and CEO. “By
combining Kopin’s advanced wearable technology and Lenovo’s strength as
a global IT and equipment solutions provider, both parties can
accelerate the commercialization of AR products and succeed in the
fast-growing China and global AR markets.”
About Lenovo Capital and Incubator Group
Lenovo Capital and Incubator Group is the global technology industry
fund of Lenovo Group. It supports startup companies utilizing Lenovo
global organization and resources, incubates and invests in promising
enterprises, and accelerates their growth by leveraging Lenovo’s global
resources. Serving as a bridge between Lenovo’s internal and external
innovations, LCIG focuses on investing in core technology and Internet
fields. The capital managed by the fund in Phase II is $500 million.
About Kopin
Kopin Corporation is a leading developer and provider of innovative
wearable technologies and critical components for integration into
wearable computing systems for military, industrial and consumer
products. Kopin’s technology portfolio includes ultra-small displays,
optics, speech enhancement technology, voice-interface and hands-free
control software, low-power ASICs, and ergonomically designed smart
headset reference systems. Kopin’s proprietary components and technology
are protected by more than 300 global patents and patents pending. For
more information, please visit Kopin’s website at www.kopin.com.
Kopin and Whisper, are trademarks of Kopin Corporation.
Forward-Looking Statements
Statements in this press release may be considered “forward-looking”
statements under the “Safe Harbor” provisions of the Private Securities
Litigation Reform Act of 1995. These include, without limitation,
statements relating to the expectations that AR/VR is the next
generation technology that will change the world after PC Internet and
mobile Internet; that AR/VR is a required technology investment
direction for virtually every enterprise; the belief that this
cooperation can further accelerate the growth of the enterprise AR
market by bringing users optimized products and services; and our belief
that by combining Kopin’s advanced wearable technology and Lenovo’s
strength as a global IT and equipment solutions provider, both parties
can accelerate the commercialization of AR products and succeed in the
fast-growing China and global AR markets. These statements
involve a number of risks and uncertainties that could cause actual
results to differ materially from those expressed in the forward-looking
statements. These risks and uncertainties include, but are not limited
to, the following: the market place may not accept AR/VR products: the
AR/VR products the market place accepts may not be those produced by
Lenovo New Vision; the AR/VR products the market place accepts may not
include products designed and or manufactured by the Company; the
cooperationbetween the Company and Lenovo New Vision may not
accelerate or have any impact of the growth of the enterprise AR market;
combining the Company’s advanced wearable technology and Lenovo’s
strength as a global IT and equipment solutions provider may not
accelerate the commercialization of AR products and succeed in the
fast-growing China and global AR markets; it may take longer than the
Company estimates to develop products; the Company’s products may
not be accepted by the market place; there may be issues that prevent
the adoption or further development of the Company’s wearable computing
technologies; manufacturing, marketing or other issues may
prevent either the adoption or acceptance of products; the Company might
be adversely affected by competitive products and pricing; new product
initiatives and other research and development efforts may be
unsuccessful; the Company could experience the loss of significant
customers; costs to produce the Company’s products might increase
significantly, or yields could decline; the Company’s
customers might be unable to ramp production volumes of their products,
manufacturing delays, technical issues, economic conditions or external
factors may prevent the Company from achieving its goals; and other risk
factors and cautionary statements listed in the Company’s periodic
reports and registration statements filed with the Securities and
Exchange Commission, including the Annual Report on Form 10-K for the 12
months ended December 26, 2015, and the Company’s subsequent filings
with the Securities and Exchange Commission. You should not place undue
reliance on any forward-looking statements, which are based only on
information currently available to the Company and only as of the date
on which they are made. The Company undertakes no obligation to update
any of these forward-looking statements to reflect events or
circumstances occurring after the date of this release.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170105005582/en/
For Product Information:
Kopin Corportion
Paul Baker,
508-870-5959
VP Business Development
pbaker@kopin.com
or
Kopin
(HK) Limited
Kenny Cheung, 852-2607-4151
Kenny_cheung@kopin.com.hk
or
For
Investor Relations
Kopin Corporation
Richard Sneider, 508-870-5959
Treasurer
and Chief Financial Officer
rsneider@kopin.com
or
Market
Street Partners
Joann Horne, 415-445-3233
JHorne@marketstreetpartners.com