London-listed Tekcapital (AIM:TEK) said on Tuesday that its wholly owned portfolio company, Lucyd, has filed five new patents and a trademark on its forthcoming line of Bluetooth® audio glasses.
The investment group explained how the five patent fillings cover the upcoming “Lucyd Loox” line of glasses to offer high-utility Bluetooth® features consistent with Lucyd eyewear.
The range will include enhancements such as the ability to rapidly switch the front plate from the electronic arms as well as to modify the style and/or lens functionality of the glasses with ‘dramatically enhanced affordability’.
The group detailed that Lucyd had filed four design patents and one utility patents covering several unique hinge mechanisms and front frame combinations to enable this exchange.
This functionality forms part of what Chief Executive and Co-Founder of Lucyd, Harrison Gross, has labelled “the first ever interchangeable-parts smart glass.”
In the case of prescription wearers, new plates will be available at a lower price than a new frame, allowing customers to quickly switch between different types of lenses according to their need.
“This new feature will allow for unprecedented freedom of choice in the look and functionality of eyewear, and effectively give the user a whole new glasses style every month for a modest fee,” added Gross.
In addition, Tekcapital told investors it believes Lucyd’s intellectual property will enable their planned implementation of GaaS (Glasses-as-a-Service) where customers can update their glasses with new front plates at anytime ‘for a small monthly fee’.
The company explained how the system would offer tiered insurance levels for the glasses, shop-wide discounts and enhanced commissions in Lucyd's cash-back referral program.
Dr Clifford Gross, Executive Chairman at Tekcapital said he believed Lucyd’s tech-eyewear launch would result in “increasing recurring revenues, enhanced customer acquisition and retention” mirroring other SaaS businesses.
Lucyd’s new line of Bluetooth® glasses is anticipated to be introduced in the first half of 2020.
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