Intel Corporation (NASDAQ:INTC) has decided to invest $24.8 million in a startup Vuzix. Vuzix is primarily a competitor to Google Inc (NASDAQ:GOOGL)’s Glass as they have technology for making fashion based wearable display devices. Vuzix CEO, Paul Travers talked on Fox Business about Intel Corporation (NASDAQ:INTC)’s investment in Vuzix and the competition with Google Inc (NASDAQ:GOOGL)’s Glass.
Travers mentioned that Vuzix was in wearable technology product for quite some time. He added that in addition to the smart glass devices, they have technology for gaming devices, virtual reality, etc. He said that a lot of fortune 500 companies are using their products for many real time applications.
Google Inc (NASDAQ:GOOGL)’s Glass was not commercially a successful product and in spite of a failure from a company like Google Inc (NASDAQ:GOOGL), a startup is trying to get established in the same technology. Travers said that the problem with Google Glass and many other wearable display device from many other companies is the size. He feels that the optics in those devices are old tech and contribute to the bulky look of those devices.
Travers feels that the bulky look of the wearable display device might work in the enterprise space, where the main intention is to get the job done. But he thinks that in consumer space the fashion aspect of these devices becomes important and that is where the Vuzix’s technology helps in getting a smart glass with fashion statement.
“[…] Without a change in those optics, it’s always going to look big and be rather bulky. In enterprise space that is not a problem when you have a wearable computing system and you can use it to help get your job done. It works very well. But in the consumer space if it doesn’t look like a fashion statement, people aren’t going to wear. That’s part of the problem with Google Glass,” Travers said.
Travers added that the technology that Vuzix possess to make wearable display device with a fashion statement has pushed Intel Corporation (NASDAQ:INTC) to invest in them. He pointed out that Vuzix’s technology could shrink the optics and fit that into a fashion glass.
Disclosure: None
Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.
