Well, it sure looks likely based upon today's news...
Canon and Microvision Enter Phase III Agreement for Supply of Microdisplay Prototypes Monday October 27, 9:35 am ET Company to Deliver Pre-Commercial Microdisplay Prototypes in Largest Contract to Date with Canon
BOTHELL, Wash.--(BUSINESS WIRE)--Oct. 27, 2003-- Microvision, Inc. (Nasdaq:MVIS - News), a leader in light scanning technologies, announced today that it has entered into an agreement with Canon, Inc. under which Microvision will provide Canon pre-commercial microdisplay prototypes for potential application in consumer product designs, including digital camera and digital video camera designs. The agreement constitutes a third phase of activity with Canon. Microvision stated that the agreement is the largest in dollar value between the companies to date. However, for competitive reasons, details relating to the financial terms and specific product plans were not released.
A Canon senior executive said: "Canon is pleased with the outcome of the phase completed recently. Microdisplay technology development is making good progress. Canon needs to continue this activity with Microvision to further the development activities for the commercialization of the Microdisplay, and introduce innovative imaging products."
Analysts at Gartner Dataquest project that combined production volumes for digital still cameras, and digital video cameras will reach nearly 80 million units annually by 2007.
Steve Willey, president of Microvision, stated, "We're very excited about winning this third phase agreement with Canon. It is a very significant milestone for the company and is evidence that industry giants such as Canon have completed basic evaluation of our proposed solutions and are willing to proceed with the purchase of prototypes. The recent design and process advances that we have made are very consistent with the market requirements for small, affordable, yet high-performance display solutions.
"We also believe that this next step by Canon is validation of our microdisplay product strategy to position Microvision as the 'premium microdisplay' provider. Our solutions offer image quality that is literally hundreds of percent higher than any competitive solution, offering our OEM partners the opportunity to develop new and compelling applications."
With revenue in excess of $24 billion US, Canon is known throughout the world for innovation and quality in products ranging from medical and industrial imaging tools to very high volume camera products, and they occupy a dominant position in many of the markets that they serve.