Launch of Lenovo’s new VR headset

Engage XR Holdings PLC

01 June 2023

 

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1 June 2023

ENGAGE XR Holdings Plc

("ENGAGE XR" or the "Group")

Launch of Lenovo's new VR headset

ENGAGE XR Holdings Plc (AIM: EXR), a leading metaverse technology company, is pleased to announce that, further to the announcement made on 28 September 2022, Lenovo™'s new ThinkReality™ VRX all-in-one virtual reality (VR) headset engineered for enterprise customers, ENGAGE XR's target market, will be available for purchase in select markets worldwide, commencing June 2023. 

Lenovo is one of the world's largest computer manufacturing and smartphone companies, and the ENGAGE proprietary software platform will be available on the new headset.

As previously announced, the partnership agreement with Lenovo covers the resale and distribution of end-user licenses by Lenovo of the ENGAGE software on the new Lenovo headsets. Over the last few months, the Group has trained and worked with Lenovo's sales team. The launch of the headsets opens a new route to market for ENGAGE and its software as the Lenovo global sales team actively look to sell the Group's technology and metaverse production capabilities directly to their enterprise clients.

David Whelan, CEO, ENGAGE XR said: "We are confident that having secured Lenovo as a channel partner in September 2022, the launch of the new headset will enable us to grow our international reach and customer base. As the headset becomes available in selected markets, we anticipate seeing further revenue growth during the second half of 2023. Lenovo has a large global market share in enterprise and education, which is ENGAGE's target market, and it should be a fruitful partnership for both parties. We continue to believe this partnership will help establish ENGAGE as the business platform of choice for these organisations."

Further details about the headset can be found here:  https://news.lenovo.com/pressroom/press-releases/thinkreality-vrx-now-available-select-markets-worldwide/

For further information, please contact:

ENGAGE XR Holdings Plc David Whelan, CEO Séamus Larrissey, CFO Sandra Whelan, COO	Tel: [phone] [e-mail]
finnCap Ltd (Nominated Adviser & Joint Broker) Marc Milmo/ Seamus Fricker (Corporate Finance) Sunila de Silva (ECM)	Tel: [phone]
Shard Capital Partners LLP (Joint Broker) Damon Heath / Erik Woolgar	Tel: [phone]
SEC Newgate (Financial Communications) Robin Tozer / Naz Zandi	Tel: [phone] [e-mail]

About ENGAGE XR

ENGAGE XR Holdings plc (AIM: EXR) is metaverse technology company focused on becoming a leading global provider of virtual communications solutions through its new fully featured corporate metaverse, ENGAGE Link. A demonstration of ENGAGE Link is here

The Company also has a proprietary software platform, ENGAGE. ENGAGE provides users with a platform for creating, sharing, and delivering VR content for education, training, and online events through its three solutions: Virtual Campus, Virtual Office, and Virtual Events. 

For further information, please visit: www.engagexrholdings.com (LinkedIn: @Engage XR Holdings plc Twitter: @engage_xr)

 

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