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Vuzix receives $24.8M cash injection from Intel for next-gen wearables

Vuzix has received a $24.8 million investment from Intel, as the company pushes ahead with wearables
By: Michael Hatamoto | Wearable Computing News | Posted: Jan 4, 2015 8:14 am
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Intel has given Vuzix a $24.8 million investment, as the hardware manufacturer wants to help Vuzix possibly create fashion-based wearable glasses. Vuzix will use the Intel cash investment to accelerate fashion-based wearable display products directly to the consumer market, as Google Glass seemingly fell flat.

 

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Intel missed the boat on smartphones and tablets, but is interested in making sure it has a major presence in the wearables market. The Silicon Valley company has already created a partnership with Opening Ceremony to create a wearable smart bracelet, catering to a higher-end market.

 

Meanwhile, Vuzix has had success in wearable development - and the enterprise market seems most appealing to manufacturers - but with Google Glass unable to appeal to most consumers, Vuzix has a unique opportunity to use Intel's investment to invade the market.

NEWS SOURCES:Prnewswire.com, Cdn.slashgear.com

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