Weekly NDM

Intel trains sights on Google Glass with $25m investment in Vuzix

This article is about how intel are now also investing in new wearable technology by paying $24.8 million for a 30% stake in US firm Vuzix. This shows that wearable technology may be the future with all large companies such as Google heavily investing in the new technology.

• The latest is Intel, paying $24.8m for a 30% stake in US firm Vuzix, which has made its name with devices aimed at consumers and workplaces – for example hospitals, warehouses and call centres – alike.
• Vuzix says it will use the investment to speed up the development of its next line of “fashion-based wearable display products”, following the launch of its M100 device in 2014 through a partnership with another tech firm, Lenovo.
• “We are trying to bring technology companies and fashion companies together,” said Bell.
• Sales of Vuzix’s existing devices have been growing, albeit from a small base: the company reported revenues of $664.6k in the third quarter of 2014, up 96% year-on-year.
• “We’re making a very big bet on wearables. We have announced we have a family of chipsets coming out in the next year that are wearables specific. It’s a pretty safe bet … Our plan is to partner with the best people, and have them teach us.”

http://www.theguardian.com/technology/2015/jan/05/intel-google-glass-vuzix-investment