Vuzix and TeamViewer Support the Broadening Use of Smart Glasses at Ricoh Japan

ROCHESTER, NY, May 19, 2022 – Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced that the Company and its partner TeamViewer, a leading provider of remote access software, are enabling Ricoh Japan, a global provider of digital services, printing and imaging solutions, to expand its use of Vuzix smart glasses. Vuzix will conduct a panel discussion with Ricoh Japan and TeamViewer on May 24, 2022 at an event in Japan to be held at The Capital Hotel Tokyu.

When supporting conventional equipment such as copiers, printers, and multifunction printers, Ricoh Japan needed to ensure a high level of customer satisfaction was maintained.   Ricoh Japan started employing Vuzix M400 smart glasses along with TeamViewer software in late 2020 and has scaled its usage in 2021.   The combined solution made it possible to view the equipment at the service location when needed and issue instructions via augmented reality from the office. By placing a marker on the screen, the location in question could be tracked even if the camera direction was changed. This allowed users to share more precise instructions. The engineers on site, together with the many supporting engineers behind the scenes, could provide precise responses in real time. As a result, Ricoh Japan has reported that its servicing times have been cut by a few hours per case.  

Ricoh’s latest use of Vuzix smart glasses is within its internship program

More recently, Ricoh Japan has utilized the use of Vuzix smart glasses in their internship program with the expectation that more students would participate in it because they were interested in using smart glasses. Furthermore, after participating in the internship, the number of students who wanted to join the company increased. Ricoh Japan stated that those who were interested in smart glasses were more likely to be suitable for employment with the firm. As a result, Ricoh Japan now considers them to also be an effective recruiting tool. 

“Vuzix smart glasses are multifunctional in terms of how many ways they can offer value to a customer,” said Paul Travers, President and Chief Executive Officer at Vuzix. “They are lightweight, comfortable and completely wireless, making them ideal for product firms such as Ricoh Japan, which has significant installation and servicing needs around the world. We look forward to working with TeamViewer to help them further expand their usage of our smart glasses going forward.” 

About Vuzix Corporation

Vuzix is a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company's products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 246 patents and patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2022 and several wireless technology innovation awards, among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK, and Tokyo, Japan.  For more information, visit the Vuzix website,  Twitter and Facebook pages.

Forward-Looking Statements Disclaimer

Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward-looking statements contained in this release relate to Vuzix Smart Glasses, ongoing certifications of this use case, our current and future business relationships and opportunities with Ricoh and TeamViewer and its customers and among other things the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.

Media and Investor Relations Contact:

Ed McGregor, Director of Investor Relations

Vuzix Corporation

ed_mcgregor@vuzix.com  

Tel: (585) 359-5985

Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,