Boston, MA 03/25/2014 (wallstreetpr) – Microvision, Inc. (NASDAQ:MVIS) which provides display technology is witnessing its list of customers growing. The company announced a deal with United Parcel Service, Inc. (NYSE:UPS) which will see it supply customized display modules to the global logistics company.
Shares of Microsvision reacted positively to the news during Monday session.
The deal
In the deal announced Monday, Microvision, Inc. (NASDAQ:MVIS) said it will supply UPS with customized PricoP modules for use in the packaging guidance application. The display modules will be deployed by UPS in a U.S. facility that was not disclosed. But the technology is being adopted to help in real-time routing and package sorting as well as attaining efficiency.
According to Microvision CEO Alexander Tokman, the modules they are supplying to UPS will aid in increasing efficiency and accuracy in the new packaging facility.
The PricoP display module supply deal with UPS is expected to open up more business opportunities for Microvision, Inc. (NASDAQ:MVIS) within the company itself given that UPS serves a wider world market spanning more than 200 countries and territories. Also, being trusted by such global leader in logistics means that more logistics companies might be attracted to try out the technology provided by Microvision, and this will boost its revenue and propel the stock upwards.
Expanding horizons
The just announced display module supply to UPS comes on the back of positive news from Sony Corporation (ADR) (NYSE:SNE) in the past months. Sony, a global leader in electronics, announced that it will use Microvision’s laser display modules in its new generation of projectors. This, the company said, will ensure better crystal display from any source and to any surface. The announcement from Sony set the shares on positive ground.
More market opportunities
Microvision, Inc. (NASDAQ:MVIS) has a lot of market opportunities for its display solutions. From electronics companies seeking to offer unrivalled image resolution to freight forwarding companies looking for accuracy and efficiency from the higher-end of the technology, Microvision has its best days ahead.
Shares of the company jumped more than 18 percent to $2.38 during trading Monday.
