August 5, 6:30 am ET
60" Display Generated with QPC's BrightLase(R) RGB Lasers in connection with previously announced contract
SYLMAR, Calif.--(BUSINESS WIRE)--QPC Lasers, Inc. (OTC BB: QPCI.OB) "QPC," a world leader in the design and manufacture of high brightness, high power semiconductor chip-based lasers for the consumer electronics, industrial, defense, and medical markets, today announced that the customer in recently announced $12 Million Laser TV Contract is Asia Optical (Taiwan Stock Exchange: 3019 - News) "AOCI," Taiwan's leading optical consumer electronics manufacturer; AOCI has successfully demonstrated a sixty inch image based on RPTV Laser TV technology at QPC's headquarters in Los Angeles, CA. QPC initially announced the Laser TV development and production contract in November 2007, and completed the development just last month, marking an important milestone in the path to consumer available Laser TV. The contract with AOCI is an exclusive supply relationship which provides for an $11 Million supply agreement to be delivered over the next three years, and carries a potential value of up to $230 million over the 10 year term of the contract.
Asia Optical Co. Inc. is Taiwan's leading original equipment manufacturer "OEM" and original designed manufacturer "ODM" of optical instruments, including fiber optics, digital cameras, DVD imaging, laser range finders and more. The company designs, manufactures and distributes its products all over the world; AOCI's products are sold under a number of well known household consumer electronic brand names. AOCI was founded in 1981, and today annual sales exceed $1 Billion USD.
QPC's BrightLase® Red-Green-Blue "RGB" lasers offer advantages to consumer electronics manufacturers including expanded color gamut for an exceptionally bright visual experience, low power consumption, an ultra compact footprint, and are designed for low cost high volume manufacturing. QPC offers integrated visible laser technologies designed to be compatible with the leading micro-display technology including LCOS, scanning micro-mirrors, DLP and LCD.
"We are honored to be working with Asia Optical and are very excited to announce this demonstration, which we feel stands as a disruptive technology to the market," said co-Founder and Chief Executive Officer of QPC, Dr. Jeffrey Ungar. "QPC recently entered the market for visible lasers late last year, and announced our Laser TV contract with Asia Optical in November of 2007. Less than eight months later we have delivered our lasers to spec and Asia Optical has already demonstrated a very large and impressive first image; I believe this achievement is a testament to AOCI's engineering team, our next-generation technology, and our combined synergies which I am confident will enable a highly competitive family of laser televisions."
Utilizing QPC's high power, compact, and cost effective semiconductor laser technology, laser displays offer a dramatically improved viewing experience compared to other older and/or more expensive technologies available today such as those based on lamps, plasma, LCDs, and conventional cathode ray tubes. Consumers may enjoy substantially more vibrant, life-like colors with the high resolution and wide viewing angles from lightweight, low cost, slim-profile devices.
"QPC's ultra high quality laser beam technology is unique, is protected by 16 patents, trade secrets and proprietary processes; in addition to televisions, a variety of projection displays are in position to profit from our superior laser light sources including portable projectors for cell phones and laptops, home and commercial theatre, video gaming as well as 3 Dimensional applications for which we announced a $3.5 Million contract earlier this month," Ungar concluded.
QPC completed the required development milestones on July 7, 2008 (see announcement) and originally announced the $12 Million contract in November 2007 (see announcement). QPC demonstrated its first green laser based on frequency doubling of its proprietary BrightLase® single-mode laser technology. (See announcement.)
Forward Looking Statements
This release and other materials released by the Company from time to time contain or may contain forward looking statements and information that are based upon beliefs of, and information currently available to, the Company's management as well as estimates and assumptions made by the Company's management. When used in the materials the words "anticipate", "believe", "estimate", "expect", "future", "intend", "plan" or the negative of these terms and similar expressions as they relate to the Company or the Company's management identify forward looking statements. Such statements reflect the current view of the Company with respect to future events and are subject to risks, uncertainties, assumptions and other factors (including the risks contained in the sections of the Company's reports filed with the Securities and Exchange Commission entitled "Risk Factors") relating to the Company's industry, the Company's operations and results of operations and any businesses that may be acquired by the Company. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned. Although the Company believes that the expectations reflected in the forward looking statements are reasonable, the Company cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. The following discussion should be read in conjunction with the Company's reports filed with the Securities and Exchange Commission.
Purchase Orders and Contracts
The Company's purchase orders and contracts are subject to standard commercial cancellation terms and conditions.
About QPC Lasers, Inc.
QPC Lasers, Inc. (www.QPClasers.com) is a world leader in the development, manufacture and distribution of high-brightness, high-power semiconductor lasers for the consumer electronics, defense, homeland security, industrial, and medical markets. Founded in the year 2000, QPC is vertically integrated from epitaxy through packaging and performs all critical fabrication processes at its state-of-the-art high-technology facility in the Los Angeles suburb of Sylmar, CA. QPC is a publicly traded U.S. company (OTC BB: QPCI.OB) and is ISO certified.
About Asia Optical Co. Inc.
For over 20 years, Asia Optical Co. Inc. has developed core technologies for the optical industry, accumulating unsurpassed experience. Asia Optical is capable of producing a wide range of products on an OEM and ODM basis, including optical components (lenses, lens head units, prisms, mirrors, filters, etc.), laser rangefinders, microscopes and cameras. Asia Optical is traded on the Taiwan Stock Exchange under symbol 3019. For more information please visit www.asia-optical.com
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For Further Information, Contact:
RedChip Companies, Inc.
500 Winderley Place, Suite 100
Maitland, FL 32751
(800) 733-2447
Fax: (407) 644-0758
info@redchip.com
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