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VUZI

Vuzix

$8.30

-0.1 (-1.19%)

13:39
07/12/18
07/12
13:39
07/12/18
13:39

Meet Vuzix: A talk with CEO Paul Travers

Vuzix (VUZI) is a supplier of Smart Glasses and augmented reality technologies and products for the consumer and enterprise markets. In an exclusive interview with The Fly, CEO Paul Travers talked about the augmented reality industry, Vuzix's recently announced partnerships with Plessey and Qualcomm (QCOM), the completion of FCC and EU CE certification for the Blade Smart Glasses, the market opportunity for this product, and much more. Here are some of the highlights: AUGMENTED REALITY: Discussing the industry as more sectors start to embrace AR products, Vuzix's CEO Paul Travers sees two distinct markets, namely the markets for the enterprise and the consumer. The chief executive believes there is not going to be "a part of enterprise that ultimately doesn't get touched by augmented reality at some point." On the consumer side of business, while "a bit more of a challenge," Travers expects augmented reality to eventually "change everything." "Augmented Reality is already becoming a billion-dollar industry," he added. QUALCOMM PARTNERSHIP: Commenting on the company's recently announced partnership with Qualcomm, Travers said he believes the latter is "ahead of everybody" in the industry regarding motion-to-photon latency. "I don't know what Apple [AAPL] is doing behind closed doors, but quite frankly [the Qualcomm] chipset is a beautiful chipset to [develop Next Generation AR Smart Glasses] with," he said. FCC, EU CE CERTIFICATION: Earlier this month, Vuzix announced completion of FCC and EU CE certification for its Blade Smart Glasses, allowing the company to fully sell them in Europe and North America. "This is the beginning of a rollout of a product that is really quite revolutionary," the CEO contended. BILLION DOLLAR INDUSTRY: Discussing the industry and some Wall Street analysts' concerns over the ramp up in Smart Glasses sales, the executive pointed out that the question is not if but "when that curve is really starting to happen." "All of us are hoping that this happens sooner rather than later," he said, adding that he sees niche markets for Smart Glasses that could be "fantastic" and "in the billions." INTELECTUAL PROPERTY UNDERESTIMATED: Vuzix has 135 patents and patents pending, but Travers believes the company's intellectual property and experience is still being "underestimated." "Another thing, people underestimate is how much you can get done on limited capital. Compared to some of these companies with billions Vuzix is a small, small player but the products that we're delivering are the winning products today," he argued. "Meet the Company" is The Fly's recurring series of exclusive short interviews with Executive Officers to offer a deeper look inside the company. A more detailed version of this interview to follow. This version corrects a prior version that included an incorrect figure for the company's patent holdings.

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