Vuzix (VUZI) M400 Smart Glasses Feature NTT XR Support Solution
Vuzix VUZI has revealed that its M400 smart glasses now feature the NTT XR Real Support solution, backed by NTT QONOQ. NTT XR Real Support is an extended reality-based solution, which is developed by Nippon Telecommunication Technology DOCOMO’s wholly-owned subsidiary, NTT QONOQ.
This latest collaboration focuses on solving the challenges of technical transfer, manpower shortage and safety gaps. The solution delivers web conferencing tools and Mixed Reality functions to provide support for on-site work. Since the launch of the M400 smart glass in 2019, Vuzix has partnered with multiple companies, including Microsoft MSFT, AMA and PTC PTC, to enhance its capabilities.
VUZI partnered with MSFT to leverage the Microsoft Teams application that was focused on solving the challenges of remote work. Together, the companies concentrated on enabling the remote workforce with innovative touchpad-based ways to chat, call and share files.
Vuzix Corporation Price and Consensus
Vuzix Corporation price-consensus-chart | Vuzix Corporation Quote
Vuzix and AMA worked together to fast-track digital transformation for industrial and healthcare clients. The Vuzix M400 smart glasses were integrated into the AMA XpertEye remote assistance products, enabling hands-free collaboration with voice control in XpertEye Essential tools. This also included seamless remote assistance in the XpertEye Advanced platform using the Vuzix M400 smart glass, which is connected to a dedicated smartphone.
The company also collaborated with PTC and integrated Vuforia Engine into the smart glasses. Supported by Vuforia Engine, the smart glasses leveraged the Qualcomm Snapdragon XR1 platform and Android 8.1 OS. This collaboration was aimed at advancing the adoption of augmented reality in industries to digitally enhance products, processes and workforce.
Vuzix is partnering with multiple industry leaders to enhance the capabilities of smart glass offerings. For instance, the company recently partnered with Atomistic to further innovate its glass offerings by implementing the usage of micro-LEDs. The company is innovating its smart glasses by using waveguide technology and micro-LEDs to reduce the eye glow in its products. VUZI considers this innovation to be a major step toward further popularising smart glasses.
The company has a long lineup of smart glasses and is one of the leading innovators in the enterprise smart glasses space. According to Grand View Research, VUZI will benefit from the global smart glass market, which is projected to witness a compound annual growth rate of 27.1% from 2023 to 2030.
Zacks Rank
Vuzix and PTC carry a Zacks Rank #2 (Buy) each, whereas Microsoft has a Zacks Rank #3 (Hold) at present. Shares of VUZI have plunged 66% over the past year, while PTC and MSFT have returned 37% and 65.3%, respectively.
Other Stock to Consider
Arista Network ANET is another top-ranked stock from the broader technology sector, which sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Arista Network’s fourth-quarter 2023 earnings has been revised by a penny northward to $1.70 per share in the past 90 days. Shares of ANET have rallied 113.9% in the past year.
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