Apple (AAPL) lured by eMagin; Making Investment of $10 million

Emagin OLED microdisplay tech receives investment from Apple LG Valve

Apple did not invest in an OLED specialist making microdisplays for wearables, the company has said, despite reports suggesting the Cupertino firm might be shoring up its smart glasses supply chain. The document, from January 23, proposed an EMagin share offering and also named LG Display Co., virtual-reality startup Immerex, gaming company Valve Corp., and Stillwater Holdings LLC as investors.

A number of commentators and experts have been speculating on what the extent of Apple's ambitions are when it comes to virtual reality (VR) and augmented reality (AR).

A leader in OLED microdisplay technology, OLED microdisplay manufacturing know-how and mobile display systems, eMagin manufactures high-resolution OLED microdisplays and integrates them with magnifying optics to deliver virtual images comparable to large-screen computer and television displays in portable, low-power, lightweight personal displays. eMagin's microdisplays provide near-eye imagery in a variety of products from military, industrial, medical and consumer OEMs. The suggestion - which included not only Apple but LG Display, Valve, and others - was based on an SEC filing by the company in late January 2018, in which the firms were listed as "specified investors" in its recent fundraising. EMagin said in the documents that it has entered into strategic agreements with "multiple Tier One consumer product companies" for the design, development and pass production of microdisplays for consumer head mounted devices. 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.

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UPDATE: eMagin have now released a statement indicating that someone somewhere got their wires crossed about what this all meant. And that, in actual fact neither Apple, nor Valve, nor LG have expressed interest - at least to their knowledge.

Among the company's handful of products is a 2K resolution (2048x2048) OLED microdisplay with a fill factor of over 70 percent, designed specifically for the VR market.

Obviously, the situation over at eMagin is developing and should there be any further updates we'll keep you informed.

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