Intel invests $24.8 million in Vuzix to make Google Glass rival: Reuters
Intel has shown an interest in the eyewear tech for quite some time now. Reuters now reports that the company has invested $24.8 million in Vuzix Corporations, a leading supplier of video eyewears and smart glasses products. The companies will work on an Internet-connected eyewear which will essentially be a Google Glass rival.
The New York-based company makes computerized, Internet-connected smart glasses and other video eyewear aimed at consumers, businesses, and entertainment. Among the financial details, the eyewears and smart glasses supplier said in a press release that Intel has bought a 30 percent share.
Intel has been trying to improve its chip’s position in the mobile market. The company late last year announced that it was merging its PC and mobile chip divisions into one in an effort to speed up the internal process and foster internal discussions and decision makings.
The company was rather late in joining the mobile chip bandwagon, and as a result of which, it is still struggling to gain pace in a market dominated by chipmakers Qualcomm and MediaTek. The company, however, has been working hard to be among the first chipmakers for wearable devices and other future trends in mobile computing.
Last month Intel had also announced that it is partnering with one of Google’s biggest eyewear partners Italy-based Luxottica to develop smartglasses that are also fashionable. The company announced it had made a “multiyear R&D collaboration to fuse premium, luxury and sports eyewear with smart technology.”
While the company had initially noted that it was not working on making an eyewear to compete with the Google Glass, it seems that a possibility is on the cards after all. Additionally, the company has also partnered Opening Ceremony, a Fossil Group and fashion brand to develop smart fashion bracelets with communications features and wireless charging.
What happens to the Google Glass? With Intel and many of its partners reportedly ditching the Google Glass platform, the future of the wearable eyewear doesn’t look so bright anymore. Last year, a report on Reuters highlighted how the $1500 Google Glass was selling in abundance on eBay for half its price. The report also noted that many of the Google Glass developers had quit on the project citing little incentive.
