Kopin^® Corporation (NASDAQ:KOPN), a leading developer and provider of high-resolution microdisplays and display subassemblies for defense, enterprise, industrial, consumer and medical products, announced today it has shipped its 720p (1280 x 720 resolution) OLED (Organic Light Emitting Diode) microdisplays for a production order from a US company for public safety applications. The 0.49-inch-diagonal 720p display incorporates Kopin's ColorMax^TM technology for superb color fidelity (greater than 90% sRGB average) and a duo-stack OLED structure for high current efficiency (over 10 candela per ampere).

A duo-stack OLED has two OLED structures on top of each other and connected in series. Because a duo-stack structure provides far more flexibility in the OLED stack design than a single-stack structure, it offers the potential for much higher current efficiency, much higher brightness, lower power consumption and longer lifetime. Kopin's patent-pending ColorMax technology, which incorporates a specially configured anode structure in the Si backplane, suppresses color mixing among tiny sub-pixels (2.8 μm x 8.4 μm in the 720p display), which otherwise would be severe for duo-stack OLED structures. The duo-stack OLED structure has been developed by our OLED foundry partner, Lakeside Optoelectronic Technology Co., Ltd. (Lakeside), which has consistently produced 720p displays with high color fidelity and excellent OLED efficiency.

"We are very pleased with our first production order of our color duo-stack 720 OLED microdisplays which is for a product made by a US company," said Dr. John C.C. Fan, CEO of Kopin Corporation. "Though this initial order is fairly modest in size, it is an important milestone for our OLED microdisplay business, and is a true proof-point of our fabless OLED display business model in which our OLED partner, Lakeside, manufactures the displays on our ColorMax backplane wafers to meet our specifications. With the successful production of duo-stack color displays on our ColorMax wafers, we believe it will be the first of many orders from companies around the world that want to leverage our industry-leading technology."

Kopin Corporation is a leading developer and provider of innovative display and optical technologies sold as critical components and subassemblies for military, industrial and consumer products. Kopin's technology portfolio includes ultrasmall Active Matrix Liquid Crystal displays (AMLCD), Liquid Crystal on Silicon (LCOS) displays and Organic Light Emitting Diode (OLED) displays, a variety of optics, and low-power ASICs. For more information, please visit Kopin's website at www.kopin.com.

Lakeside photoelectric technology (Jiangsu) Co., Ltd. is an OLED technology developer and OLED microdisplay manufacturer having a factory in Changzhou, China. For more information, please visit Lakeside's website at www.hupanoled.com.

Statements in this press release may be considered "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which are subject to the safe harbor created by such sections. Words such as "expects," "believes," "can," "will," "estimates," and variations of such words and similar expressions, and the negatives thereof, are intended to identify such forward-looking statements. We caution readers not to place undue reliance on any such "forward-looking statements," which speak only as of the date made, and advise readers that these forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, estimates, and assumptions by us that are difficult to predict. These forward-looking statements may include statements with respect to: Our belief that it will be the first of many orders from companies around the world that want to leverage our industry-leading technology. Various factors, some of which are beyond our control, could cause actual results to differ materially from those expressed in, or implied by, such forward-looking statements. All such forward-looking statements, whether written or oral, and whether made by us or on our behalf, are expressly qualified by these cautionary statements and any other cautionary statements that may accompany the forward-looking statements. In addition, we disclaim any obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release, except as may otherwise be required by the federal securities laws. These forward-looking statements are only predictions, subject to risks and uncertainties, and actual results could differ materially from those discussed. Important factors that could affect performance and cause results to differ materially from management's expectations are described in Part I, Item 1A. Risk Factors; Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations; and other parts of our Annual Report on Form 10-K for the fiscal year ended December 28, 2019, or as updated from time to time in the Company's Securities and Exchange Commission filings.