The U.S. manufacturer of augmented reality glasses, Vuzix Corporation (NASDAQ: VUZI) concluded the week losing 2.51 percent to settle at $3.88, but the stock was up 3.19 percent over the past 5 sessions.
Over the past few years, Vuzix has successfully sold its augmented reality (AR) lenses. Requests originate from various sectors, and the AR M400 glasses are one of the most common solutions.
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A change in the status of Vuzix was previously marked by different investors. Now the company is a leading and universal provider of AR application systems, applicable in different processes including from operating in warehouses of cargo to conducting surgical operations.
To fulfill the need of new devices for technical support and distance learning against the backdrop of COVID-19, two major customers have now placed new orders for M400 glasses last week to Vuzix. Customers have already checked Vuzix innovations, and new orders are for daily use devices. Vuzix did not disclose the customers’ details, but the first customer is considered to be a major engine manufacturer that is listed in the Fortune 500 list. The second is a large company which provides pharmaceutical industry with logistics services.
On an ongoing basis, several participants in Vuzix pilot projects opt to buy glasses for subsequent use. For long-term investors, this is a positive indication, which indicates that Vuzix technologies are mature enough for commercial scaling to take place.
Vuzix was the first in the direction which eventually established the idea of universal augmented reality glasses. However, that segment has been attempted by some giant corporations, such as Apple and Google, to be the first to launch a commercially viable AR product, but eventually Vuzix seems to be successful than those tech giants.
Vuzix Corporation (NASDAQ: VUZI) have current market capitalization of roughly $170 million which came on the heels of 93.03 percent gain the company has added to its value since start of the year.