MICROOLED, the leading manufacturer of high resolution, low power consumption OLED microdisplays, announces a €21 million fundraising led Jolt Capital, a specialist in private equity for responsible deeptech companies, with the French sovereign wealth fund Bpifrance via its Innovation Defense vehicle, alongside both historical investors, Cipio Partners and Ventech.

Smartphones and tablet PCs can be used as gateways to augmented reality, but smart glasses will soon become the dominant wearable equipment to do so. They will require the use of embedded microdisplays that can offer high luminance and contrast, but also very low power consumption from super lightweight batteries. Among competing technologies, organic LED (OLED) demonstrate an excellent overall performance compared to classic LED ones, and they are increasingly used for see-through Near-Eye Displays (NED) in viewfinder eyepieces for cameras.

Recent announcements for new mixed-reality headsets that could reach the shelves in 2024 have boosted the AR market, including applications for industry and security segments. The global market for microdisplays designed for AR/VR use could reach $4 billion by 2027, according to a 2022 report by KBV Research, a 4x increase compared to 2020, with 10% of the total value captured by OLED technologies. 15 million units of AR smart glasses could be shipped worldwide by 2027, according to CCS Insight.

Among the handful of international players able to design and manufacture these low energy consumption OLED microdisplays, MICROOLED can address both consumer and recreational markets (the ActiveLook head up display module to be embedded in glasses for real time visual information in hand free activity use cases), and industry/security ones. Since 2007, the Grenoble-based company has developed a wide range of core technologies derived from the semiconductor industry, protected by over 170 granted patents, through a close collaboration with neighbor CEA/Leti research centers. MICROOLED is perfectly positioned to grab leadership in the field of wearable ultra-lightweight HUDs. To cater to the various needs for “light AR” applications, the company offers a line-up of compact products ranging from 0.2” to 0.6” in size, with high resolution and power as low as 1mW.

MICROOLED’s €21 million financing round, led by Jolt Capital and the Innovation Defense Fund managed by Bpifrance and underwritten by the French Defense Innovation Agency to support the scaling of dual-use technologies, will allow MICROOLED to finance the development of the next range of full colour, high luminance OLED solutions, to expand manufacturing capabilities in Grenoble, and to grow international sales teams in the security segment and the B2B ActiveLook platform model. Both historical shareholders, Cipio Partners and Ventech, also reinvested in that new round.


We are very pleased with Jolt Capital and Bpifrance joining our cap table, and to see that our historical shareholders Cipio Partners and Ventech continue their support. All of them understand deeptech and the stakes of sovereignty. Innovation is at the heart of our strategy, and this new funding will allow us to double down on our efforts to bring to market the most disruptive technologies in the field of AR.” says Eric Marcellin-Dibon, CEO of MICROOLED.

MICROOLED is the archetypal growth deeptech company that we are looking for at Jolt. Patented core technologies in the field of semicon, a genuine potential to build manufacturing capacity in Europe, a series of fast growing B2B markets, and powerful but energy frugal products. We are delighted to have them join our portfolio and are looking forward to helping them scale to global leadership in light AR.” comments Pierre Garnier, Managing Partner at Jolt Capital.

We are delighted to become a shareholder of MICROOLED, to help them reach another level in terms of technology development, sales, and industrial capacity. MICROOLED is a key global supplier of the near-eye microdisplays market, for both military and civilian applications. It perfectly matches the strategy of the Defense Innovation Fund, aiming at supporting the growth of tomorrow’s deeptech champions.” adds Nicolas Berdou, investment director at Bpifrance.


For additional information on MICROOLED please contact: 

Eric Marcellin-Dibon, CEO : eric.marcellin-dibon@microoled.net

Jean-François Kitten (LicenceK) : jf@licencek.com +33 6 11 29 30 28

For additional information on Jolt Capital please contact: 

Philippe Perez : philippe.perez@jolt-capital.com +33 6 23 82 67 19

For additional information on Bpifrance please contact: 

Sophie Santandrea : sophie.santandrea@bpifrance.fr +33 7 88 09 28 17

For additional information on Cipio Partners please contact: 

Sophie von Eberhardt : seberhardt@cipiopartners.com 0177-8907087

For additional information on Ventech please contact: 

Yakun Wang : yakun.wang@ventechvc.com +33 6 16 44 14 87

General media contact (Steele&Holt)

Servane Taslé : servane@steeleandholt.com +33 6 66 58 84 28

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About MICROOLED | https://microoled.net  

With €25 million invested in research  and development since its creation in  2007 in Grenoble’s Tech  Valley, MICROOLED  specializes in the design, production and marketing of OLED  microdisplays  for  near-eye  applications  (outdoor  optical equipment, night vision glasses, ocular  equipment for medical devices,  augmented reality glasses, etc.). In just a few years, MICROOLED has become a key partner of the world’s top technology integrators with a unique technology that combines high resolution, high levels of brightness and low energy consumption. Thanks to its solid stand-out technological expertise, MICROOLED is the leading player in Europe and number two worldwide in its historical markets. The company is now looking to conquering the SporTech market with the roll-out of ActiveLook(R), its disruptive solution for augmented reality glasses designed for sports enthusiasts around the world.

About Jolt Capital | www.jolt-capital.com

Jolt Capital is an independent private equity firm specialized in growth investing in advanced technology companies, with a mission to build future European leaders with a global focus. Since 2011, Jolt Capital invests in European B2B companies with revenues between €10M and €50M. Jolt Capital’s team is composed solely of experienced investors and managers of high-tech companies. Its proprietary AI platform, Jolt.Ninja, enables enriched sourcing, accelerated due diligence and automatic detection of investment or acquisition targets. Jolt Capital is located in Paris, Lausanne, Copenhagen, and Milan.

About the Defense Innovation Fund and Bpifrance | www.bpifrance.fr

Launched in 2020 by French Ministry of Armed Forces, on the initiative of the French Defense Innovation Agency, the Defense Innovation Fund supports with equity and quasi-equity the growth and development of innovative companies with dual-use technologies that play a specific role in the defense sector. The Fund size is €200M. The goal is to hatch new players with critical mass at French and European levels.

Bpifrance Investissement is the management company that handles Bpifrance’s equity investments. Bpifrance is the French national investment bank: it finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurances. Bpifrance also provides extra financial services (training, consultancy) to help entrepreneurs meet their challenges (innovation, export…). Thanks to Bpifrance and its 50 regional offices, French entrepreneurs can benefit from a unique and efficient community advisor.

Twitter : @Bpifrance / @BpifrancePresse

About Cipio Partners | www.cipiopartners.com  

Founded in 2003, Cipio Partners is a leading investment management and advisory firm for European growth capital & minority buyouts for technology companies. Cipio Partners targets European growth stage technology businesses with €10-50 million in revenue and makes initial investments ranging from €5-15 million. Cipio Partners operates from offices in Munich and Luxembourg.

About Ventech | www.ventechvc.com  

Ventech is a global early-stage venture capital firm with a strong digital focus. Founded in 1998, Ventech backs the most innovative and visionary tech entrepreneurs with a global ambition. With its dual structure platform, Ventech has dedicated funds for Europe (Paris, Munich, Berlin & Helsinki) and Asia (Shanghai and Hong Kong). Since its inception, Ventech has raised over 900m€, and has realized over 200 investments, (including Vestiaire Collective, Passion.io, Ogury, Picanova, Veo, Reveal, Speexx) and over 90 exits (Fintecsystems – acquired by Tink; Believe (BLV.PA) – listed on Euronext; Arteris (AIP) listed on Nasdaq). LinkedIn and Twitter: @Ventech_VC

Discover a concrete example of the impact of the Minalogic competitiveness cluster on a major success story.

This video highlights the achievements of MICROOLED, the different stages that led to its success, as well as the shared history between MICROOLED and the Minalogic competitiveness cluster since their partnership since the company’s inception in 2007.

To see the interview click here !

On Friday, June 2nd, Eric Marcellin Dibon, founder of MICROOLED, showcased his smart glasses while highlighting their features and benefits on the show “Good Morning Business” hosted by Laure Closier and Christophe Jakubyszyn. “Good Morning Business” can be watched on BFM Business.

To see the interview click here !

Eric Marcellin-Dibon CEO of MICROOLED and ActiveLook® was on BFM Business last morning with Jeanne Spicarolen to talk about our connected glasses and our AMOLED microdisplays. 

To see the interview click here !

Suunto®, the iconic Finish brand, opens its API to the Activelook® technology to connect its watches to the world’s lightest AR eyewear 

February 28, 2022 – Two European players, Activelook®, the head-up display technology integrated in smartglasses, and Suunto®, the Finnish manufacturer of sports watches, are pleased to announce their exclusive partnership at Mobile World Congress. Thanks to this partnership, the sport data measured by the Suunto devices can now be displayed on the world’s superlight AR eyewear to enhance the performance of any athlete and outdoor adventurer. 

A unique AR technology for a complete sports experience 

ActiveLook® is an embedded head-up display technology that fits into sleek, lightweight frames and lenses. A dedicated software & hardware technological platform allows any eyewear and sports manufacturers to easily take a leap into AR technology. 

ActiveLook®’s miniaturized and invisible AR technology displays essential performance data without obstructing the field of vision. Specifically, a smart chip integrated into the eyewear projects data to a discrete near-eye display that “melts” into the optics. It gives access in real time to whatever data is monitored by athletes as they train or compete, such as distance covered, elapsed time, their speed, pace, or heartbeat.  

A hands-free coach in AR 

Already recognized as a driver to improving the athlete’s motivation and safety, the real-time data monitored by the Suunto devices adapts to any sport practiced at any level: barometric altitude, route navigation, sport-specific maps, etc., while providing an overview of key indicators (distance, speed, heart rate, cadence, etc.). 

Thus, the combination of ActiveLook®’s AR eyewear with the Suunto sport watches came almost naturally, to offer a totally immersive and renewed sporting experience. Boosted by sensors, the smart watch works as the central calculation unit gathering all the key data needed by the athlete. The smartglasses then send the data to the athlete, ensuring a simple, discrete and intuitive visuals access to their performance. A key to long term sport practice success!

Coaching & Orientation: The immersive experience of running

The projection in the smart glasses provides athletes with the ideal conditions to enhance training, motivation and performance. For outdoor sports, ActiveLook® and Suunto’s blend of expertise is the perfect complement. So, when the athlete is running alone in the wilderness, riding a forest trail on a mountain bike, riding in a pack, training in a group, or tackling difficult slopes and tight turns, the data is automatically projected on the near-eye display. It saves time and allows the athlete to focus on their practice and experience without having to make any additional gesture to access their data. 

It also makes the journey safer.  Thus, featuring “road” alerts that are sent to the athletes while running, the Suunto® watches allow them to adapt their practice, equipment and effort to gain in performance, skill and safety. The experience becomes immersive, as the Activelook® smartglasses unleash the latent value of the high-performance sensors integrated into the Suunto® watches.

Technology at the service of people and sports 

Xavier Bonjour, Marketing & Partnerships Director of ActiveLook®, explains: “With our technology, the head-up display enters a new era: athletic performance and safety. It proves that this technology has become mature! Free of distortion or distractions, the glasses can now offer new services that make sport safer and more fun”.

Janne Kallio Head of Partner Products of Suunto®, adds: “Athletes using Activelook with Suunto watches will be able to fully focus on their experience running in rocky trails or speeding down the mountains with their bikes or skies. This co-operation really brings future innovation to today’s consumers”. 

The complementary nature of connected watches and glasses is ushering in a new era in sports. It extends the already successful indoor sports experience of players such as Peloton and Swift to the outdoors. Activelook® is a new kind of partner for the Finnish watch brand. For the first time, Suunto® is opening up its devices and technology to third-party content. A promising European and technological collaboration in many multi-device uses.

A prototype of the ActiveLook®- compatible Suunto® app was on display during MWC in Barcelona, Spain, February 28 to March 3, 2022, at Hall 7 Stand 7E23. 

The prototype was functional on the latest Suunto® 9 Peak and work with any eyewear integrating ActiveLook®’s technology. 

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Activelook® is on the shortlist for Glomo Mobile Awards 2022 in the Best Connected Consumer Devices category. 

About d’ActiveLook®   

ActiveLook® is the specialist augmented reality division of the French company MICROOLED, which manufactures high-resolution OLED microdisplays with very low energy consumption. ActiveLook® is developing a compact module that can be integrated into eyewear and connected to a smartphone or smartwatch app to manage the data screened on the near-eye display. The system works in conjunction with the ActiveLook app, which is compatible with Garmin and other devices. This solution has already been adopted by sports eyewear manufacturers including Julbo, Engo eyewear, and now Cosmo Connected. https://www.activelook.net/

About Suunto

We stand for adventure. Pioneering exploration has been in our DNA since 1936, when Finnish orienteer Tuomas Vohlonen set out to create a more accurate compass, and subsequently invented a new method for manufacturing liquid‐filled compasses. Today Suunto is at the forefront of design and innovation for sports watches, dive computers and instruments used by adventurers all over the globe.

Eighty-four years removed from our founding, we are proud that Suunto products can take a beating, but are also designed with an everyday aesthetic that reflects our Nordic identity. Suunto’s headquarters and factory are still in Finland. https://www.suunto.com


ActiveLook® is proud to announce its partnership with Cosmo Connected, the French developer of connected urban micro-mobility safety solutions. Developed by MICROOLED, ActiveLook® offers a miniaturized and invisible augmented reality device that displays navigation information via a Head-up display.

How does it work?
Eyewear equipped with ActiveLook® technology contains an embedded and invisible microdisplay that, depending on the sport concerned, shows route, speed and heart rate data without obstructing the wearer’s view of the horizon. The heart of the ActiveLook® module is based on a monochrome AMOLED display with 304 x 256 pixels resolution consuming less than 1 milliwatt; 3times less energy than the most advanced of its competitors. With a battery life of more than 12 hours, and weighing just 6g, ActiveLook® provides a readable display regardless of ambient light conditions. The ActiveLook® device connects via BLE (Bluetooth Low Energy) to a smartphone, watch and to some more specific sensors (heart rate sensor, power sensor, etc.).

CosmoVision eyewear: a partnership between Cosmo Connected and ActiveLook®
As part of its forward development path, ActiveLook® is now looking to the world of sport and urban micro-mobility to meet the daily needs of travel and sport. In this context, mixed reality that delivers navigation and physical performance data considerably improves the safety margin of wearers. Since 2000, screens have become part of our daily activities lives and our lives increasingly depend on them. In developing a new product category of connected eyewear,
ActiveLook® is offering its users the opportunity to follow their route safely with no need to look at their smartphone.

ActiveLook® Founder Eric Marcellin-Dibon says: “Mass adoption of AR relies on discrete integration. Consumers aren’t prepared to put on superhero helmets, but they definitely do want eyewear that helps them to see and do their activity better. We believe that ActiveLook® is the inevitable technological evolution of the eyewear that has been making our lives easier for centuries”.

Cosmo Vision connected eyewear will be available for pre-order at €489 from 18 October via the Cosmo Connected website, and previewed in the Alain Afflelou retail network starting early in December.

In November, we responded to the call for national projects by highlighting the strong growth of
our results, and the market opportunity for ActiveLook®️ augmented reality (AR). #francerelance #madeinfrance #oled


2020 marked a turning point for MICROOLED, in particular thanks to the fundraising of 8 million last September. Meeting with Eric Marcellin Dibon, CEO and co-founder of MICROOLED.

 1. What were the highlights for MICROOLED in 2020?

EMD : “The past two years have been excellent for MICROOLED. We achieved very good growth by first passing the symbolic barrier of 10 million euros in turnover in 2019 and then the cap of 20 million euros in 2020. Heavy investments were made and allowed for the set up of a second Oled production line. Our production capacity has been multiplied by more than 3 in 2 years. To support this growth, our team grew extensively, welcoming 30 new employees over the past two years.

The year 2020 was also marked by the market launch of EVAD-1 eyewear by our customer Julbo, which works with our ActiveLook system. This is a new turning point for us, because until then we were positioned in a very technical market and we are now entering the sports eyewear market.

2. Has the Covid 19 health crisis had an impact on microoled? 

EMD : The COVID-19 crisis has not had an impact on our sales. On the other hand, the semiconductor sector being a sector under general tension, we have observed difficulties and slowdowns in terms of supplies. This was a barrier to meeting our delivery commitments.

MICROOLED’s production remained operational with a shutdown of only two weeks throughout the year.

Of course, we have reduced travel and demonstrations, which is extremely frustrating, because our products need to be tried out and tested by customers. So we look forward to meeting again with our customers.

3. What are the group’s challenges for 2021? 

EMD : 2021 is shaping up nicely as yet another growth year for the company. The real challenge is to support this rapid growth.

Although 95% of our sales are already made abroad, our ambition is to extend our efforts, particularly in the USA, Asia, and Europe.

Another challenge for 2021 is the further development of Activelook’s strategy with new eyewear brands”

CES® is the most influential tech event in the world — the proving ground for breakthrough technologies and global innovators. We are very proud to have received this award in the Embedded Technologies category.

We also received an award in the Sports & Fitness category, with the EVAD-1 from our customer Julbo, sport glasses set to revolutionize sporting activities.

YD: OLED-on-Silicon is a mature technology but has long been affiliated with specific applications like electronic viewfinders, sports optics and defense. What are the advantages of this technology compared to the other incumbent ones?

Gunther Haas (GH): First of all, one main differentiator of OLED-on-Silicon technology compared to other established microdisplay technologies like LCoS is the excellent contrast and overall picture quality. Especially for near-to-the-eye applications, users are very sensitive to this as there is no light from the external environment affecting the display image. We developed an OLED technology with excellent uniformity. The gap between the pixels is so small that it is invisible. In addition, our pixel structure has even smaller sub-elements due to our quad pixel arrangement. Compared to LCOS or LCD microdisplays, the difference in picture quality is very visible in an electronic viewfinder. This is key for digital cameras, but also for defense applications because it relates to the distance of detection. In addition, for head-up or AR-type applications, where the display image is optically laid over the user’s natural view, we can provide extremely high contrast, meaning a black level close to zero, which is mandatory in order not to get parasitic light in the user’s view.

Secondly, our OLED-on-silicon technology has a much better power efficiency compared to our competitors, and to the other technologies mentioned. The display, with its optical system, has a very compact footprint as it does not require external illumination.  All near-to-eye applications are portable and battery-operated, so a power-efficient and compact technology really make the difference. This is especially key for eyewear VR/AR applications.

Last but not least, the wider temperature range and faster response times compared to LCD and LCOS have been one of the main drivers for defense and sport optics applications, where LCOS or LCD are now rarely used.

YD: AR has been promised for many years. Given the need for a microdisplay technology, OLED-on-Silicon products have tried to make a push for this application in wearables and headsets. What would be the advantages of using OLED-on-Silicon?

GH: In the AR space, initially LCOS-based systems were dominating because they can provide very high brightness, but it was at the cost of a bulky and power-hungry system with low picture quality. As explained before, AR glasses require compact and power-efficient displays with very high contrast. As of today, only OLED microdisplays can deliver this. In the past, the limited brightness of OLED microdisplays has been the main limitation. However, advances in OLED materials as well as new device architectures we developed, have allowed us to overcome this issue. As the first products based on our ActiveLook platform impressively demonstrate, OLED microdisplays can be used in full optical see-through systems, even in the  brightest sunlight. These first products are based on a monochrome display, but a two-primaries red and green microdisplay is used by another customer in an AR system for outdoor applications. We currently have full-colorr versions of high brightness OLED microdisplays under development and sampling to our customers.

YD: You very recently raised 8M€ to accelerate the deployment of your ActiveLook Smartglass Platform. What is this platform?

Eric Marcellin Dibon (EMD): ActiveLook is a compact module for AR sunglasses, which connects to various devices, such as mobile phones and smartwatches. The overall system weighs less than 7g with over 12-hour autonomy, including battery, optics, microdisplay and full electronics.

Our first target was the sports eyewear market, and we wanted to do it differently from all the other techie smartglasses. Everything is built around our core technology, our ultra-efficient high brightness microdisplay, with only 1mW power consumption. We designed the system to be very lightweight and to enable stylish good-looking sport sunglasses that are indistinguishable from regular eyewear, and are designed to project data directly in the lens without obstructing and obscuring your vision. Julbo, the extreme sport sunglass maker, recently introduced the EVAD-1digital sports glasses this year. They did a fantastic job integrating our ActiveLook module. We are very proud of this collaboration. The design is amazing. The glasses are very comfortabl, and include photochromic lenses. When you wear them, nobody can guess it includes a real heads-up-display. The Julbo EVAD-1 comes with an ActiveLook sport application, which is available on the Apple App Store, Google Play, and Connect IQ from Garmin.ActiveLook is an open platform. It includes a Software Development Kit, which enables partners to develop their own custom-designed applications. We are working with many partners who see a unique opportunity to extend their market access by making their data available directly in the ActiveLook module. Examples include coaching applications and performance monitoring. Thanks to its low weight, long-duration autonomy, and form factor, ActiveLook will also be an excellent platform for industrial applications, such as connected safety glasses. We have many projects in the pipeline. This is a very exciting time for us.

YD: Why have you decided to go towards developing more than a display, and producing a complete platform? Was it an internal effort or a pull from your clients and partners?

EMD: We have always been a very customer-focused company. Step by step it became obvious that our customer base and new markets were looking for solutions rather than just a microdisplay. It is especially true for new use cases and augmented reality. The consumer brands are very strong in marketing, product design, and retail, but they do not necessarily have a good understanding of the technology. Many have tried to assemble technology parts together but for a poor result. This is where we have a key role to play.

We were convinced that by taking into account the requirements of the customer’s product, from an end-user point of view, we could do things differently, by optimizing the technology all along the chain, from the optics to the microdisplay and the electronics.

At the beginning, it was fully an internal effort, we had to grow the team, integrating many forms of expertise, including mechanical, system engineering, optics, and firmware. Our deep understanding of microdisplays, video, and optics technologies helped us to develop a module that meets market demand.  Very quickly customers approached us and started collaborating on projects together. We provided the expertise and technology they did not have. We have many partners working with us to develop new products and use cases. Julbo’s EVAD-1 sunglasses are the first of these projects. We will extend ActiveLook to many customers and partners but also to other AR applications.

YD: A long-talked but still prototype early-phase technology has been around for a few years now, namely microLEDs. There is lots of promise but no product yet. Do you see this technology as a threat?

GH: The display industries always went through major technology changes, from cathode ray tubes to liquid crystal displays, to OLEDs. For sure new technologies will arise. However, some did not succeed or had very limited market access such as field emission displays, plasma, and DLP, because their key features only matched niche market requirements.

We have so far seen early prototypes of monochrome microLED based microdisplays with very high brightness. However, the samples show many defects and it is not really possible to evaluate picture quality. There are numerous technical hurdles that would have to be overcome for microLEDs before becoming a competitive microdisplay technology even for monochrome displays.

In contrast to OLED-on-Silicon, microLED-on-Silicon is a heterogeneous technology. This means that millions of interconnects at pixel level are required in order to connect the individual pixel circuits to the corresponding microLED element. It is not clear how a reasonable manufacturing yield can be achieved for these interconnects as only very few or sometimes zero-defect pixels can be tolerated in a display. Also, the overall manufacturing process is very complex and includes further steps for pixelization and common connection of the LEDs as well as steps like substrate release. Overall, the cost of manufacturing will be very high.

The efficiency of microLEDs drastically decreases with pixel size, and from available data, we can see that power consumption will be significantly higher compared to OLED, at equal brightness.

MicroLEDs require pixel-to-pixel homogeneity calibration including full-frame memory, which increases both cost and power consumption.

In addition, for AR and other near-the-eye applications, there is no real advantage. The required brightness for monochrome applications is easily met already by our OLED-based microdisplays. However, I think it is in principle possible to realize such monochrome microdisplays that could be used for projection applications where really high brightness is required and where power efficiency and cost are not essential.

When it comes to color, as of today there is no realistic solution how to make full-color microLED-based microdisplays. Full-color direct view microLED displays using color conversion via red and green Quantum Dots has been demonstrated, however with a quite low resolution of 100-200ppi, and with rather low brightness. In microdisplays, we typically have resolutions between 2000 and 4000ppi which correspond to pixel sizes down to 6µm, which is impossible to realize with quantum dots.

Many efforts in microLED today target larger size, relatively low-resolution direct view displays, using mass transfer techniques from red, green, and blue microLED wafers to large glass substrates. I cannot comment on how successful this might be, however, I do not see how microLED technology for very high-resolution displays like microdisplays could become a reality.

On the other hand, OLED materials and devices, in general, are still making significant progress. There is a large critical mass of material and technology developers behind. One example is the recent progress in highly efficient blue emitters.  For microdisplays, we are currently making great progress in terms of efficiency and light output, as well as for optical systems for AR applications which are becoming more efficient as well. Only few applications like projection or some HUD-type applications really require extremely high brightness. Therefore, there will be only a very small space for an expensive and very capital-intensive technology to breakthrough. It is not obvious that even if all the technical and cost-related problems could be solved that this technology will reach the market.

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