Spatialight Receives Purchase Agreement From DeoCom Worth $27 Million
16 Marzo 2007 - 11:00AM
PR Newswire (US)
Production Commences of LCoS Microdisplays for Head Mounted Display
Units NOVATO, Calif., March 16 /PRNewswire-FirstCall/ --
SpatiaLight, Inc. (NASDAQ:HDTV), a leading developer and
manufacturer of ultra high-resolution Liquid Crystal on Silicon
(LCoS) microdisplays, announced today that it has entered into a
Purchase Agreement with DeoCom of South Korea. The agreement was
consummated on March 9, 2007, and provides the terms and conditions
under which SpatiaLight will supply DeoCom with LCoS imagers and
associated products for Head Mounted Display applications over a
period of three years. The estimated value of product expected to
be sold by SpatiaLight under this agreement, given DeoCom's
forecast, is over $27 Million. SpatiaLight has received a firm
purchase order for the first 1,000 units to be delivered under this
agreement and has commenced production of LCoS microdisplays for
use in DeoCom's Head Mounted Display (HMD) units to fulfill this
order. Dr. Michael Jin, Chief Technology Officer of SpatiaLight,
stated, "Technically, this product is similar to our core product,
the T3, but with some modifications to the cell fabrication that
allow for a faster response time. Several small drive circuitry and
firmware modifications enable single panel operation, as well In
addition to single panel designs, DeoCom also intends to
manufacture the 'glasses' in a dual panel, dual channel
configuration. This '3-D' HMD is capable of stereoscopic operation,
and will therefore support some very exciting 3D applications. This
is a new, intriguing and growing market segment." David Hakala,
SpatiaLight Chairman and Chief Executive Officer, said, "We are
very pleased to have entered into this agreement that grew out of
our memorandum of understanding signed in January. This marks an
important point in our drive to diversify our customer base. To our
knowledge, this is the first and only 1920 x 1080p near-to-eye
product to be announced in the marketplace, let alone manufactured.
We believe that this will become an important product segment for
business travelers, gamers and anyone who wants total immersion
while using video-based equipment. We anticipate that DeoCom will
demonstrate this product in the near future to well known Tier 1 US
companies in the gaming, personal computer and personal mobile
electronics industries. We believe the market segments addressed by
this product have tremendous growth potential and believe this is
only the beginning of opportunities for this category of product."
About DeoCom DeoCom, founded in Korea in 2000, is a developer and
manufacturer of innovative near-to-eye (NTE) display products and
is focused on selling near-to-eye high resolution display products
into the consumer and professional markets. DeoCom introduced its
first model of head mounted NTE displays in Korea in July of 2001
and continues to be a leader in the industry. About SpatiaLight
SpatiaLight, Inc., founded in 1989, manufactures high-resolution
LCoS microdisplays for use in high-definition televisions and other
display applications. The company manufactures its products at its
production facility in South Korea. SpatiaLight is committed to
developing microdisplay technologies that will be the standard for
the next generation of high definition televisions and to providing
OEMs with the most cost effective, high-resolution microdisplays in
the industry. For more information about SpatiaLight, please visit
the Company's website at: http://www.spatialight.com/. Safe Harbor
Statement This news release includes forward-looking statements
that reflect SpatiaLight's current expectations about its future
results, performance, prospects and opportunities. SpatiaLight has
tried to identify these forward- looking statements by using words
and phrases such as "may," "will," "expects," "anticipates,"
"believes," "intends," "estimates," "plan," "should," "typical,"
"preliminary," "we are confident" or similar expressions. These
forward-looking statements are based on information currently
available to SpatiaLight and are subject to a number of risks,
uncertainties and other factors that could cause SpatiaLight's
actual results, performance, prospects or opportunities in the
remainder of 2007 and beyond to differ materially from those
expressed in, or implied by, these forward-looking statements.
These risks and uncertainties are outlined in the Company's filings
with the U.S. Securities and Exchange Commission, including its
most recent reports on Form 10-Q and 10-K. DATASOURCE: SpatiaLight,
Inc. CONTACT: Michael Porter or Marlon Nurse, +1-212-564-4700, or ,
both of Porter, LeVay and Rose, Inc., for SpatiaLight, Inc. Web
site: http://www.spatialight.com/
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