DISPLAYTECH ANNOUNCES INCREASED FOCUS ON VIEWFINDER BUSINESS
LONGMONT, CO., March 8, 2002 - Displaytech Inc., announced today it is increasing the resources dedicated to viewfinder products as a result of the success the company has experienced in this very large market where the company is seeing increasing demand for microdisplay products. In order to facilitate the increased focus on the Viewfinder Business, the company also announced that projection display development activities have been returned to research status. As a result of these changes the company reduced total employee count to approximately 50 people focused on the Viewfinder Business, Core Technology and Photonics. "The restructuring of the company implemented today allows us to focus on continuing the high growth we have experienced with our viewfinder business. It is always difficult, but often critical, for companies to make decisions between business opportunities. We will continue to evaluate additional business opportunities for our FLC displays in the context of maintaining the focus on the Viewfinder Business," said Dick Barton, Displaytech CEO. Displaytech's success in the viewfinder market was noted in a recent press release that announced that the company had shipped over 1,000,000 viewfinders during the previous twelve months for both Camcorders and Digital Still Cameras.
"The Board of Directors has carefully reviewed the company's plan to focus on the Viewfinder Business and is in complete support of this business direction," said Bob Burr, Displaytech Board Member.
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 and mobile communication devices. Displaytech offers high-quality, patented, ferroelectric liquid crystal (FLC) display products through its LightView 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 also position Displaytech to keep pace with the challenges of the high-volume consumer electronics market. For more information visit www.displaytech.com.
CONTACT: |
Steve Reinhard Displaytech, Inc. Phone: 303-772-2191 stever@displaytech.com |