Vuzix® Corporation (NASDAQ: VUZI), (“Vuzix” or, the “Company”), a leading supplier of Smart Glasses, Augmented Reality (AR) technologies and products for the consumer and enterprise markets, is pleased to announce that the Company has partnered with Qualcomm to develop next generation Vuzix’ AR smart glasses on Qualcomm’s new Snapdragon XR1 platform. The first dedicated Qualcomm XR platform specifically designed for smart glasses and wearables, the XR1 is a perfect match for Vuzix’ mission to continue to deliver fashionable and ergonomic smart glasses with an immersive user experience.

The Snapdragon XR1 integrates Qualcomm Technologies’ heterogeneous computing architecture including an ARM-based multicore Central Processing Unit (CPU), vector processor, Graphics Processing Unit (GPU) and Qualcomm® AI Engine. The XR1 allows for power efficient on-device processing of vision based machine learning algorithms that can help with key Augmented Reality (AR) use cases like better pose prediction, object classification etc. The XR1 was also designed to deliver an immersive User Interface (UI) experience, with features such as native voice processing, 3-D audio, motion tracking, head tracking and more.

The next generation Vuzix Blade™ will leverage many of the XR1’s unique on-board capabilities to deliver visual, audio, voice, and intuitive interactions for an immersive UI in an untethered pair of AR smart glasses. The XR1 coupled with advancements in Vuzix proprietary waveguides and display engines, will enable Vuzix to deliver even smaller more fashionable form factors. The next generation VUZIX M-series Enterprise smart glasses will also leverage the XR1’s special optimizations for AR experiences. With Artificial Intelligence (AI) capabilities built into the XR1, offering better interactivity, power consumption, and thermal efficiency, Vuzix enterprise smart glasses will deliver even more value to industrial users. Expect to see the first Vuzix products based on the Qualcomm Snapdragon XR1 platform in 2019.

“Vuzix has a long history of delivering augmented reality eyewear to their enterprise customers. Their focus on optics, experience, and form factor will serve them well as the AR market grows,” said Hugo Swart, Head of Virtual and Augmented Reality Business Group, Qualcomm Technologies, Inc. “We believe our collaboration with Vuzix will help drive increased excitement and adoption for standalone AR in both the enterprise and consumer segments.”

“Qualcomm’s Snapdragon XR1 platform will help Vuzix advance our AR Smart Glasses in terms of power efficiency and deliver smoother user experiences along with better overall system performance,” said Paul Travers, President and Chief Executive Officer at Vuzix. “Qualcomm’s XR1 platform combined with other leading technologies will enable Vuzix to push the envelope on form factor on our next generation waveguide based Vuzix Blade™ Smart Glasses without sacrificing the overall performance of the glasses.”

Forward-Looking Statements Disclaimer

Certain statements contained in this news release are “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to Qualcomm as well as the Company’s leadership in the Video Eyewear, VR and AR display industry. They are generally identified by words such as “believes,” “may,” “expects,” “anticipates,” “should” and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company’s beliefs and assumptions as of the date of this release. The Company’s actual results could differ materially due to risk factors and other items described in more detail in the “Risk Factors” section of the Company’s Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.