The camera uses optical character-recognition technology and is mounted onto the eyeglasses of people who are considered legally blind.
Using the device, study participants were significantly better able to perform activities of daily living, researchers said.
The device recognises text and reads it to the user using an earpiece that transmits sound, and can also be programmed to recognise faces and commercial products, they said.
"The device offers new hope for the large and growing number of individuals with age-related macular degeneration or advanced-stage glaucoma," said Mark J Mannis from University of California in the US.
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"This device offers hope to patients who are beyond medical or surgical therapy for the condition," he added.
The device is easily used and could potentially bring greater independence, particularly for older patients who are struggling with vision loss, researchers said.
The study included 12 participants with low vision, six men and six women. With an average age of 62, the participants experienced vision loss from a wide array of disorders, including age-related macular degeneration and end-stage glaucoma.
Initially, none of the participants were able to perform five of the 10 tasks - reading a message on an electronic device such as a smartphone or tablet, a newspaper article, menu, letter or page from a book.
Researchers then trained the participants to use the portable artificial vision device, which operates either by pointing at an item, tapping on it, or pressing a trigger button.
A wire attaches the device to a small pack containing the device's battery and computer. It can be carried, fit into a pocket or attached to a belt, researchers said.
Researchers performed a separate sub-analysis of seven patients who were using other low-vision aids and found that their performance on the test was better when using the device, as well.
The findings were published in the journal JAMA Ophthalmology.