Display and sensor developer MicroVision Inc. has signed a contract with a major technology company to develop a laser beam scanning (LBS) display system and produce specific components. Under the agreement, MicroVision would develop a new generation of MEMS1, ASICs2 and related firmware for a high-resolution, LBS-based product. MicroVision would receive up to $24 million, including $14 million in fees, for development over a span of 21 months and an upfront payment for other items. The fees are contingent upon completion of milestones in 2017 and 2018. MicroVision is a developer of ultra-miniature laser projection and sensing solutions based on laser beam scanning methodology.