London-listed Tekcapital (AIM:TEK) told investors on Monday that its portfolio company, Lucyd, will launch its third line of Lucyd Loud Bluetooth® glasses on 27 January 2020.
The investment group announced the continued development of the line for Lucyd, who is one of the first companies to deliver prescription smart glasses, the statement detailed.
Lucyd, the smartglass developer and operator of a global eShop for tech-enhanced eyewear, describes the new range as the ‘most advanced entry in the wearables market’ with its smart features formed in a way similar to traditional glasses.
The audio glasses, which are prescription compatible, offer enhanced sound quality alongside comfort and style, the company explained, at an altogether 'comfortable price’.
In addition to making calls and listening to music, the audio glasses utilise digital assistant software like Siri® and Google Voice®, making its use as glasses more versatile to the wearer.
Dr Clifford Gross, Executive Chairman of Tekcapital said the group was pleased at the launch and Lucyd’s progress “as it seeks to capitalize on its first-mover advantage in providing prescription, Bluetooth enabled eyewear.”
“It is my firm belief that these new smart glasses represent a significant leap over other options in the space, with their superior combination of quality, prescription adaptability and price,” said Harrison Gross, CEO of Lucyd.
Gross added that Lucyd had taken on board a large amount of feedback and user stories from its previous models in order to "catalyze" the development of the Loud 3.0 range.
In a previous December statement announcing the filing of five new patents for the Bluetooth® glasses, Gross said he believed the launch would result in “increasing recurring revenues, enhanced customer acquisition and retention” to mirror other SaaS businesses.
According to Statista, the global eyewear market, which is made up of spectacles, contact lenses, sunglasses, and other eyewear products, was estimated to be worth around 131 billion U.S. dollars in 2018 and was forecast to reach a value of 210.8 billion U.S. dollars by 2025.
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