Apple, LG, and Valve are making a $10 million investment in eMagin, a small company that makes OLED microdisplays, reports CNET, which found the info in documents filed with the US Securities and Exchange Commission.
The Hopewell Junction, New York-based company manufactures active-matrix Organic LED (AM-OLED) microdisplays on silicon. These displays perform at low-power levels, extended temperature ranges and provide image performance not possible with LCD technologies, the company says.
The investment, made in the form of a new stock issuance, was expected to be completed before the end of January, according to the filing. CNET says the investment underscores the tech community’s commitment to virtual reality and augmented reality.
In January the Financial Times reported that Apple has “assembled a large team of experts in virtual and augmented reality and built prototypes of headsets…”.
In a June 2017 blog post, venture capitalist Gene Munster says iPhone growth will peak in fiscal year 2019, then slowly decline as “Apple Glasses” emerge. He thinks those glasses, an AR-focused wearable, will be released mid-fiscal year 2020.