Apple AR Headset Update: eMagin Denies Partnership With Cupertino Giant

Contrary to earlier reports, Apple did not invest in OLED display maker eMagin Corp. as part of its plans for its augmented reality headset. Jeffrey Lucas, eMagin’s chief financial officer, has already denied the reports that initially fuelled the interest of consumers on what the Cupertino giant could be preparing for its AR hardware.

Lucas set the record straight Monday by revealing that the iPhone X maker did not invest in his company despite a listing in a regulatory filing mentioning Apple, Bloomberg reports. The CFO clarified that they simply listed the tech giant in the filing because eMagin has had discussions with Tim Cook’s firm at industry events.

The Jan. 23 listing made headlines earlier Monday after TechCrunch and many other news outlets reported about it. Apple was not the only one labeled as part of the “specified investors” in the listing with the Securities and Exchange Commission. Also mentioned in the document were LG Display Co., gaming company Valve Corp., virtual-reality startup Immerex and Stillwater Holdings LLC.

A statement issued by eMagin clarifies that none of the listed “specified investors” actually struck a deal with the company. “eMagin … is providing clarification in response to a media report in which the author apparently misconstrued a form underwriting agreement that the Company filed as an exhibit to its S-1 on January 23, 2018 and incorrectly stated that a group of certain consumer electronics companies participated in the recent offering of the Company that closed on January 29, 2018. As of today, to the Company’s knowledge, none of these consumer electronics companies have taken part in the offering.”

An Apple spokesperson declined to comment on the issue. It’s worth noting that after Apple and the other companies were mistakenly named as eMagin investors, the latter’s shares jumped to as much as 41 percent. After Lucas voiced out the clarification though, the stock gave up a lot of gains and was even temporarily halted.

Meanwhile, TechCrunch is still adamant that Apple could be working with eMagin. The publication stated in an updated report that it is still trying to find out if Apple is working with the leading manufacturer of active-matrix Organic LED microdisplays in any other capacity.

Apple is currently working on an augmented reality headset that could display content such as text messages, videos and even games in the wearer’s field of view. Previous reports indicated that the tech giant is hoping to have the technology ready by 2019, so it could start selling the product by 2020.