Company Profile
Vuzix (OTCQB:VUZI) is a small company involved in the development and manufacture of virtual reality and augmented reality technology. The company currently sells six different models of wearable optical displays (smartglasses), with applicable uses across a broad spectrum of activities.
Vuzix's most impressive product currently available for sale is the company's M100 "smartglasses" product. While the tech world has given a lot of attention to Google (GOOG) Glass, which is still unavailable to the consumer, Vuzix has already brought a similar device to market. Nonetheless, Vuzix does not directly compete with Google as Google has focused on the consumer segment while Vuzix has targeted the enterprise customer for sales of its augmented reality glasses.
Device Applications
While the general consumer may be largely unaware of Vuzix's existence, its products have been utilized in enterprise environments with impressive results. Amongst the more popular enterprise applications is the incorporation of smartglasses into the warehousing sector. The glasses' functionality allows it to guide a worker to the shelf where an item is located, identify via a bar code (replacing a handheld scanner) reader that the correct item has been selected, and guide the worker where to place the item for shipment. Additionally, the glasses may also be used for inventory management and peer-to-peer communications.
The technology can also be used in engineering applications where on-screen guidance may replace a handheld instruction manual, and where electronic guidance could be of help. In the medical field the device could be used to display patient information and vitals in real time during surgery, in the security sector the glasses would be able to scan ID's and display pertinent information without the need for a handheld device as well. Essentially, the potential enterprise applications for smartglasses are limitless.
(click to enlarge)
Operational History
Vuzix's first
