WaveOptics Signs Deal with Google Supplier Goertek

WaveOptics has signed a deal with Goertek to mass produce waveguides for augmented reality (AR) glasses.

Waveguides are lenses that guide light from a tiny projector to the glass of AR devices, allowing virtual objects to be overlaid on the real world. They are currently used in AR headsets sold by companies such as Microsoft and Magic Leap.

Partnering with a large business like Goertek, whose customers include Samsung, Sony, and Google, will allow WaveOptics to reduce the cost of its components.

Earlier this year, WaveOptics announced another manufacturing deal with EV Group, an Austrian firm. The new deal with Goertek is in addition to this previously established partnership.

The global AR market is projected to reach $70 billion by 2023, according to forecasts from Mordor Intelligence. The firm expects to see a compound annual growth rate in AR of 51 percent over the next five years.