Apple Backs Maker of OLED Screens for Augmented-Reality Devices

• February 12 2018
• Mark Gurman

Apple Inc. has given yet another indication it’s working on augmented-reality glasses as it seeks new products beyond the iPhone.

Apple Inc. has given yet another indication it’s working on augmented-reality glasses as it seeks new products beyond the iPhone.

The Cupertino, California-based technology giant invested in AR display component maker EMagin Corp., according to a late January regulatory filing by the Bellevue, WA-based company. The investment, which also included contributions from LG Display Co., virtual reality startup Immerex, gaming company Valve Corp., and investor Stillwater Holdings LLC, totaled $10.6 million, according to EMagin. Apple’s exact investment amount was not specified.

EMagin shares soared as much as 41 percent to $2.05 on Monday after the filing was reported by several technology news websites. That was the biggest intraday jump since May 2015.

EMagin sells display components used to build augmented and virtual reality headsets, according to its website. The small screens, based on organic light-emitting diode technology, are crisper than some AR and VR displays currently on the market. Apple’s investment indicates the iPhone maker’s continued interest in the category. Apple is rarely named in filings as a key investor, but the company does publicly confirm when it has made an acquisition that it can leverage for future products.

Apple is working on an AR headset that could put content like games, text messages, video, and business conferencing in the wearer’s field of view. The iPhone maker hopes to have the technology ready for such a headset by the end of 2019 so that it can begin selling the product as early as 2020, Bloomberg News has reported. Apple manufacturing partner Quanta Computer Inc. invested in AR component maker Lumus late last year.