Concord Camera Corp's EyeQ™ 3x Digital Camera will Feature Displaytech's Lightview QVGA Display Module Viewfinders
Visit Displaytech During PMA 2001, February 11 - 14, 2001 Orlando Convention Center, Booth #4296
ORLANDO, Fla., February 13, 2001 -- Concord Camera Corp. (Concord) (NASDAQ: LENS) and Displaytech Inc. today announced at PMA that they entered into a supply relationship for the new Concord's EyeQ™ 3x digital camera, as well as for certain other digital cameras in development utilizing the Concord EyeQ™ design and development platform. Displaytech, the leader in the design, development, manufacturing and marketing of ferroelectric liquid crystal (FLC) microdisplays, will supply full-color viewfinder displays for use in the new Concord EyeQ™ 3x digital camera. Displaytech's LightView QVGA display module features the company's patented FLC technology, which combines excellent image quality with small size, low cost and negligible power demand.
The compact and sleekly designed Concord EyeQ™ 3x digital camera, at less than 1" thick, is small enough to fit in a shirt pocket, and includes market leading features such as 3X optical zoom, playback image capability, storage of up to 72 images, USB connectivity and yet weighs only 4.1 ounces.
"We're excited to be working with an innovative industry leader such as Displaytech," stated Ira B. Lampert, Concord's chairman, chief executive officer and president. "Displaytech's microdisplays provide Concord both superior product quality and design simplicity which complements our market leading digital image capture engineering design, development and manufacturing processes. Combining our respective industry strengths with how well our business and technical teams have worked together gives us confidence that we will enjoy a long and successful relationship."
According to Displaytech Chairman and CEO Haviland Wright, the marriage of Concord digital cameras and Displaytech viewfinders is particularly appropriate. "Concord has pledged itself to making high-quality, low-cost digital cameras," said Wright. "It has been Displaytech's aim from the beginning to provide innovative products of exceptional quality for just this kind of application."
The LightView QVGA display module features 320 x 240 resolution and full, 24-bit color. Displaytech's LightView family of FLC-based personal viewing products has generated keen interest in the digital camera industry, as well as from manufacturers of camcorders and head-mounted displays. Displaytech's strategic manufacturing alliance with Japanese precision display manufacturer Miyota makes Displaytech the world's only dual-sourced microdisplay producer. The company's agreement with Concord demonstrates to the marketplace its capacity for mass production of quality components for a world-class manufacturer like Concord in an increasingly competitive global market.
About Concord Camera Corp.
Concord Camera Corp. is a global developer, designer, manufacturer and marketer of high quality, low cost, digital, instant, Advanced Photo System (APS) and 35mm format cameras and 35mm, APS and instant format single-use cameras. Concord markets its cameras under the trade names CONCORD®, KEYSTONE®, CONCORD EYE Q™ , LE CLIC®, GOLDLINE®, APEX® and ARGUS®. Today, Concord is one of the world's leaders in the single-use camera category, one of the fastest growing segments of the camera market, and the largest producer of single-use cameras in the world in private label, corporate premium and original equipment manufacturer segments of the industry. Concord sells and markets its camera products worldwide through direct sales offices in the United States, Canada, Germany, Hong Kong, the United Kingdom and France and through independent sales agents. Concord manufactures its products in its expansive, vertically integrated manufacturing facilities in the Peoples Republic of China, which includes a class 10,000 "clean room" digital technology manufacturing and assembly facility. Concord's fiscal year 2000 revenue was approximately $173 million.
About Displaytech
Longmont, Colo.-based Displaytech Inc. makes and sells microdisplays with superior image quality to performance-driven consumer electronics companies, providing sustainable competitive advantages to their digital still cameras, camcorders, business projectors, projection TVs and mobile communication devices. Displaytech offers high-quality, patented ferroelectric liquid crystal (FLC) display products through its LightView and LightCaster® product lines -- which use less power and have smaller form factors -- allowing for product design innovation and meeting tough manufacturing demands. Established partnerships with industry-leading manufacturers and proven manufacturing capabilities also position Displaytech to keep pace with the challenges of the high-volume consumer electronics market.
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LightView is a trademark, and LightCaster is a U.S. registered trademark of Displaytech Inc. All other trademarks are the property of their respective owners.
This press release contains forward-looking statements that involve numerous risks and uncertainties. The Company's actual results could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in the Company's filings with the Securities and Exchange Commission, some of which are summarized under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended July 1, 2000 and updated in subsequently filed reports. In particular, timely introduction of Concord's new digital cameras will require satisfactory completion of our development effort and initiation of full-scale production.