Vuzix Corporation (NASDAQ: VUZI) shares move higher Wednesday, as the leading supplier of smart glasses and Augmented Reality (AR) technology entered into a partnership agreement with Quanta Computer a Global Fortune 500 Company and worldwide leading Original Design Manufacturer (ODM). The partnership will support the manufacture of next generation lightweight smart glasses for the broader markets.
Vuzix is set to shortly deliver the first batch of its latest advanced waveguide and optical display components for this project, and a plan is
being put in place for subsequent deliveries to be made throughout 2024. Quanta and Vuzix are committed to presenting innovative smart glasses solutions for the broader markets, making it accessible to a wide range of interested market participants.
"This partnership agreement between Vuzix and Quanta represents an important step toward advancing the capabilities of AR smart glasses and their associated accessories as it aims to address the evolving needs of consumers and enterprises by delivering state-of-the-art technology that seamlessly integrates into everyday life," said Vuzix CEO Paul Travers. "We look forward to working with such a leading product manufacturer as Quanta."
"We are excited to join forces with Vuzix to revolutionize the AR smart glasses industry," said Quanta President C.C. Leung. "The development and design efforts are already underway at Quanta for such products, and our plan is to deliver a suite of groundbreaking AR smart glasses products during 2024 to our potential global customers, using waveguides and components sourced from Vuzix."
VUZI shares took on eight cents, or 3.2%, to $2.46.
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