MicroVision Transferring Display Component Production to Tech Customer
MicroVision is transferring component production to the tech customer with which it signed a $15 million contract in April 2017 to develop a laser-beam-scanning display system (see 1904180001), it said Tuesday. The new arrangement allows MicroVision “to enjoy the upside…
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if the customer’s product experiences much higher volumes in the future, while allowing for a lower cost structure and reducing our expected working capital requirements in 2020,” said the company. MicroVision described the customer as a global technology leader planning to use the display to develop a consumer augmented reality product. MicroVision stock has battled Nasdaq delistings for low prices. Shares closed 1.4% lower at 17 cents.