Wearable Devices Ramps Up Inventory in Anticipation of its Participation at the 2024 CES Showcase

YOKNEAM ILLIT, ISRAEL, Dec. 27, 2023 (GLOBE NEWSWIRE) —  Wearable Devices Ltd. (the “Company” or “Wearable Devices”) (Nasdaq: WLDS, WLDSW), a technology growth company specializing in artificial intelligence (“AI”)-powered touchless sensing wearables, today announced a significant increase in the production of its innovative Mudra Band. This strategic move aims to meet the anticipated interest following the Company’s showcase at the upcoming 2024 Consumer Electronic Show (“2024 CES”) event.

Wearable Devices will be showcasing its latest innovations from January 9th to January 12th at the Las Vegas Convention Center, North Hall, Booth #8363 in Las Vegas, Nevada.

Mudra Band: Meeting Demand at 2024 CES

As Wearable Devices gears up for the 2024 CES, the Company is proactively increasing the inventory of its flagship product, the Mudra Band. This wearable technology, compatible with Apple Watch, enables users to control their devices through intuitive finger movements. The increased production ensures that post-2024 CES, the Mudra Band will be readily available to meet the anticipated high demand for its Mudra Band.

2024 CES: A Global Stage for Technological Innovation

CES, the most influential tech event in the world, is set to take place in Las Vegas, bringing together the brightest minds in technology and global business. 2024 CES is expected to be a showcase of next-generation innovations in consumer technologies, with Wearable Devices among the leading exhibitors. This event provides an unparalleled platform for companies to unveil new products and technologies to a global audience of potential buyers, investors, and media.

Asher Dahan, Chief Executive Officer of Wearable Devices, stated, “At the 2024 CES, Wearable Devices will demonstrate the Mudra Band’s groundbreaking capabilities in neuro-gestural control. This participation underscores our role as a pioneer in the field of wearable technology and our commitment to enhancing user interaction with digital devices.”

Visitors are invited to join Wearable Devices at the 2024 CES for an exclusive look at the Mudra Band and to experience the future of wearable technology. Discover how the Company is shaping the way users interact with their digital world.

For coordinating personal meetings with Company representatives, please contact

Mr. Shmuel Barel, Chief Marketing Officer, at shmuel.barel@wearabledevices.co.il

About Wearable Devices Ltd.

Wearable Devices Ltd. is a growth company developing AI-based neural input interface technology for the business-to-consumer (“B2C”) and business-to-business (“B2B”) markets. The Company’s flagship product, the Mudra Band for Apple Watch, integrates innovative AI-based technology and algorithms into a functional, stylish wristband that utilizes proprietary sensors to identify subtle finger and wrist movements allowing the user to “touchlessly” interact with connected devices. The Company also markets a B2B product, which utilizes the same technology and functions as the Mudra Band and is available to businesses on a licensing basis. Wearable Devices is committed to creating disruptive, industry leading technology that leverages AI and proprietary algorithms, software, and hardware to set the input standard for the extended reality, one of the most rapidly expanding landscapes in the tech industry. The Company’s ordinary shares and warrants trade on the Nasdaq market under the symbol “WLDS” and “WLDSW”, respectively.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, we are using forward-looking statements when we discuss our plans to attend the 2024 CES and present our technology, the anticipated high demand for our Mudra Band following our participation at the 2024 CES, our position as a pioneer in the field of wearable technology and our commitment to enhancing user interaction with digital devices. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to successfully market our products and services; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2022, filed on March 22, 2023, and our other filings with the Securities and Exchange Commission. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Investor Relations Contact

Walter Frank
IMS Investor Relations
203.972.9200
wearabledevices@imsinvestorrelations.com