We missed Zecotek’s announcement that it is now working with a second major European automobile manufacturer to integrate its 3D technology into a brand-specific 3D head-up display for consumer use. Zecotek’s 3D HUD technology is designed to be compact, does not require eye tracking and provides a deeper field of view than existing HUD displays, as well as a platform for rich content.
Audi, BMW, Mercedes, Porsche and other luxury auto brands have integrated HUD units in their higher-end vehicles and are looking for new technologies to expand the capabilities and affordability of the HUD platform. Zecotek’s new platform claims to offer superior attributes when compared to existing technologies. In 2015, the automotive HUD industry was worth approximately $411.5 million, with over 1.2 million units sold. According to Markets & Markets, the industry is projected to grow at a CAGR of approximately 22% through 2021 and to be valued at over US$1.3 billion, with German automakers experiencing the greatest adoption integration of HUD products.
Zecotek’s says its 3D HUD display system will not require eye tracking due to having 90 views which are simultaneously projected into the viewing zone, each corresponding to a particular view point within that zone. The resulting screen allows the driver or passenger to see a true 3D image as viewed from the chosen point anywhere within that viewing zone. Zecotek’s 3D scientific team has been working with European automobile companies for several months, and integration of the company’s patented 3D display technology is underway for HUDs.
With glasses-free 3D technology, next-generation HUD units offer the possibility of full 3D effects, projecting the images seen by drivers at safer distances from the windshield, therefore causing less of a distraction. Richer content can be displayed along with navigation and telemetry.
Analyst Comment
Separately, the company said it has entered into agreements to settle an aggregate of $2,958,019 of debt owed to certain creditors to the company, including directors, employees and third-party consultants, in consideration for the issuance of common shares of the company. The creditors have agreed to a payout discount of up to 40% of total debt and will be issued 5,752,653 common shares of the company at a deemed price of $0.32 per share.
A total of $1,033,880 of the debt is held by current insiders of the company and includes management fees and director fees. Insiders will receive a total of 1,938,526 common shares on completion of the debt settlement. The disinterested directors of the company have approved the debt settlements with the respective insiders, their associates and affiliates. (AF)
We generally treat forecasts from Markets & Markets with some caution. (BR)
