Three of the most prominent tech giants, namely, Valve Corp., LG, and Apple, have reportedly made investments worth USD 10 million in eMagin. The firm, reputed for manufacturing OLED technology for microdisplays & virtual imaging items, has been acquired by the aforementioned giants to fulfill their aim of expanding across the virtual & augmented reality markets.
Post filing the documents with the U.S. Securities & Exchange Commission, eMagin issued a statement that this deal with the reputed consumer goods manufacturers will help the firm increase its microdisplay production for consumer headsets. According to CNET.com, the funding made in the form of issuance of new stocks had been anticipated to be finalized by the end of January this year.
The firm has also claimed that its OLED microdisplay, a flagship product with a 2K display, provides a 2,048 x 2,048 pixels resolution along with 70% fill factor – the pixel percentage used to gather light. Experts are of the view that the firm’s partnership with Apple, Valve, and LG will help eMagin to massively expand its OLED microdisplay manufacturing business across the consumer goods sector. The deal is projected to assist the tech participants in embedding virtual reality technology in their product, thereby helping in the creation of 3D environment for goggle-wearing end-users.
Reportedly, Apple Inc. has increased the power of its AR Play last month when it introduced the ARKit 1.5 software – a component of iOS 11.3 launch, projected to add new features enriching the apps. Through this software, special headsets would be able to superimpose a digital image on the real world through the use of AR technology, cite sources.
For the record, even LG Electronics and Valve Corporation have collaborated to create a VR head mounted device display. Industry analysts forecast that the deal between eMagin and the tech giants will not only support the mass production of consumer headset with AR & VR displays but will bring a paradigm shift in the consumer electronics sector in the near future.