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Intel invests $25M in Google Glass rival Vuzix

Posted: 13 Jan 2015 ?? ?Print Version ?Bookmark and Share

Keywords:smart glasses? Google Glass? M100?

Chipmaker Intel Corporation has acquired a 30 per cent stake amounting to $24.8 million in smart glasses maker Vuzix Corporation. The investment debunks rumours that Intel will be supplying the processors for the next generation of Google Glass.

Pursuing the wearable tech industry, Intel has already signed a multi-year collaboration with luxury brand Luxottica for a smart eyewear project. By buying a stake in Vuzix, Intel is also getting involved in the enterprise side of wearables. Vuzix says it's also targeting the medical, retail and materials management sectors, claiming that companies can use the M100 smart glasses' Internet-connected display to give workers "unprecedented access to information, data collection and more." Google is reportedly trying to crack the same markets with its Glass at Work scheme, developing the software that will help Glass connect to real workplace scenarios.

For Vuzix, the investment comes at a critical time. Although its third quarter revenue in 2014 was up 96 per cent to $664,586, its net loss for that same period was a little over $3.3 million.

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