Spectra7 DreamWeVR™ Chipset Production
Shipments Ramping; Program Duration Anticipated to Be Over Multiple
Years
SAN
JOSE, Calif., May 5, 2022
/CNW/ -- (TSXV:SEV) (OTCQB:SPVNF) Spectra7 Microsystems Inc.
("Spectra7" or the "Company"), a leading provider of
high-performance analog semiconductor products for data centers, 5G
infrastructure, virtual and augmented reality, and other
connectivity markets, announced that it has entered production of a
significant design win previously awarded by a major consumer game
VR platform provider. Spectra7's advanced DreamWeVR™ chipset
of 3 chips will be used in the tethered interconnect between the
game platform and the virtual reality (VR) head mount display
(HMD).
Spectra7 has worked with the customer to secure raw materials
and production capacity aligned to the intended delivery schedule
of the DreamWeVR™ chips. Production is expected to ramp and is
aligned with the Company's previously announced growth
objectives.
"We are extremely pleased that our DreamWeVR™ chipset was
chosen by this global tier-one game platform maker for their
second-generation VR headset," said Spectra7 CEO Raouf Halim. "We have worked closely with them
and their cable partners for several years to bring this win to
fruition. Initial production shipments of our chipset have started
and will continue to ramp throughout the duration of this program,
which we anticipate will be over multiple years."
The VR game industry is currently in the early stages of
adoption and deployment in a market that, according to Fortune
Business Insights,1 is projected to grow at a CAGR of
31.4% from $7.9 billion in 2021 to
$53.4 billion in 2028. While todays
VR experiences are increasingly immersive, next generation systems
promise to deliver significantly lighter weight, higher performance
and dramatically higher bandwidth feeding next generation
ultra-high-resolution multi-display systems.
Each of the chips used in this tethered interconnect feature
Spectra7's SpectraLinear™ EQ architecture that builds on previous
advanced patented analog equalization technology developed by the
Company while incorporating a high linearity output driver that
works in a highly collaborative way with device systems-on-a-chip
("SOC") and enables the highest total link performance.
Spectra7's DreamWeVR™ chips support 4K HDR at frame rates up to 120Hz and
multi-camera tracking data being sent back to the platform. The
Spectra7 chips are also ultra-low power and packaged in tiny chip
scale packages, allowing them to be embedded in slim Type-C
connectors.
1 Fortune Business Insights
ABOUT SPECTRA7 MICROSYSTEMS INC.
Spectra7 Microsystems Inc. is a high-performance analog
semiconductor company delivering unprecedented bandwidth, speed,
and resolution to enable disruptive industrial design for leading
electronics manufacturers in data centers, 5G infrastructure,
virtual and augmented reality, and other connectivity markets.
Spectra7 is based in San Jose,
California with a design center in Cork, Ireland and technical support location
in Dongguan, China. For more
information, please visit www.spectra7.com.
Neither the TSX Venture Exchange nor its regulation services
provided (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
CAUTIONARY NOTES
Certain statements contained in this press release constitute
"forward-looking statements". All statements other than statements
of historical fact contained in this press release, including,
without limitation, statements regarding the anticipated revenue
growth, the Company's strategy, plans, objectives, goals and
targets, and any statements preceded by, followed by or that
include the words "believe", "expect", "aim", "intend", "plan",
"continue", "will", "may", "would", "anticipate", "estimate",
"forecast", "predict", "project", "seek", "should" or similar
expressions or the negative thereof, are forward-looking
statements. These statements are not historical facts but instead
represent only the Company's expectations, estimates and
projections regarding future events. These statements are not
guarantees of future performance and involve assumptions, risks and
uncertainties that are difficult to predict. Therefore, actual
results may differ materially from what is expressed, implied or
forecasted in such forward-looking statements. Additional factors
that could cause actual results, performance or achievements to
differ materially include, but are not limited to the risk factors
discussed in the Company's Management's Discussion and Analysis for
the year ended December 31, 2021.
Management provides forward-looking statements because it believes
they provide useful information to investors when considering their
investment objectives and cautions investors not to place undue
reliance on forward-looking information. Consequently, all of the
forward-looking statements made in this press release are qualified
by these cautionary statements and other cautionary statements or
factors contained herein, and there can be no assurance that the
actual results or developments will be realized or, even if
substantially realized, that they will have the expected
consequences to, or effects on, the Company. These forward-looking
statements are made as of the date of this press release and the
Company assumes no obligation to update or revise them to reflect
subsequent information, events or circumstances or otherwise,
except as required by law.
For more information, please contact:
Matt Kreps/Jim Fanucchi
Darrow Associates
214-597-8200
ir@spectra7.com
Spectra7 Microsystems Inc.
Bonnie Tomei
Chief Financial Officer
669-212-1089
ir@spectra7.com
Spectra7 Microsystems Inc.
John Mitchell
Public Relations
650-269-3043
pr@spectra7.com
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SOURCE Spectra7 Microsystems Inc.