Vuzix, a company that is a leading supplier in the smart glasses and augmented reality space for consumer and enterprise markets, announced recently that it has signed a three-year agreement with Toshiba that will see the two come together on a custom smart glasses solution. The supply agreement revolves around the M300 Smart Glasses product that was developed by Toshiba and Vuzix earlier this year.
Through the new three-year agreement, Toshiba has basically put in an order that will make Vuzix the sole supplier of the product to Toshiba and its affiliates. And Vuzix has agreed to sell any such product exclusively to Toshiba for at least a year so long as Toshiba fulfills its minimum purchase order of $5 million.
Vuzix said, in a statement emailed to Dealerscope, that the product will be cobranded as a Toshiba product that is powered by Vuzix. It will be sold by Toshiba through their Toshiba Client Solutions group, which will bundle the smart glasses with a “specially designed mobile edge computing system” that was developed specifically for this program.
"'We are excited to expand our partnership with Toshiba into the volume manufacturing phase and believe that you will see this relationship transform even further as we continue to lead the way in smart glasses and Augmented Reality products," Paul Travers, President and CEO of Vuzix, said in the statement. "Additionally, this agreement is one more step that demonstrates how Vuzix is leveraging and partnering our industry leading technology with top tier global partners. We trust that this will be the first of many ongoing collaborations to be announced."
Production is expected to commence during the first quarter of 2018.