American multination corporation Intel is taking a big step towards the wearable devices market. The company, known for its microprocessor products, has invested $24.8 million to Vuzix.
The Rochester-based company has already made its name known throughout the wearable devices industry in the past. The company is specifically known for producing display devices as well as developing software for such devices.
According to an official statement released by Vuzix, Intel's massive investment will fund Vuzix's current projects. Vuzix unveiled its finest creation the M100 smart eyewear on Consumer Electronics Show last 2013. The smart eyewear was one of the most anticipated gadgets of the expo and went on to win CES Innovation Award. The company has also developed a video- eyewear support for PlayStation 3 and Xbox 360. The device was the first smart eyewear that supports stereoscopic 3D.
On the other hand, Intel's $24.8 million investment represents 30 percent of overall Vuzix stocks. Intel has not yet issued an official statement about the deal but several business analysts predict that most stock acquired will be converted to tradable shares. Intel is not new when it comes to wearable device.
Early in 2013, Vuzix announced that it will be developing a new set of sunglasses type wearable devices. With Intel's multimillion investments Vuzix can finally bring that project into fruition.
In November 2014, Intel has confirmed that Google will be using its microprocessors to power the next line of Google Glass. Both Google and Intel have confirmed the deal but no further information was provided. This left many experts speculating whether what Intel processor will be used to power the next Google Glass.
In December 2014, Intel has teamed up with Italian eyewear manufacturer Luxottica Group. The deal merged Intel's expertise on top of the line chipsets and software technology together with Luxottica's modern design innovation and expertise in marketing.