Neonode® Signs License Agreement With BYD Company Ltd for Consumer
SANTA CLARA, Calif. -- January 23, 2013
Neonode Inc., (NASDAQ:NEON), the optical touch technology company, announced
today that it has signed a high volume multi-year license agreement with BYD,
which is one of the world’s largest product manufacturers of consumer
electronics, automotive solutions and green technologies. The BYD device, that
is to incorporate Neonode’s MultiSensing™ touch solution, is expected to go
into mass production in the first quarter 2013.
“We are thrilled to kick-start the cooperation with BYD, an impressive and
truly innovative company,” said Thomas Eriksson, Neonode CEO. “Thanks to the
experience we have gained from working with a large number of global OEM’s, we
have developed an attractive made-to-measure, fast time-to-market and highly
competitive market offer. In addition, our ultra-low power and high performing
MultiSensing technology has a very attractive cost and feature performance
ratio, all important factors for BYD in their choice of technology partner,”
At the customer's request, details regarding the product are not disclosed.
Neonode’s optical MultiSensing™ touch technology, rivaling the best capacitive
solutions, is currently being incorporated into wide array of high volume
color LCD products worldwide: mobile phones, tablets, office equipment, in-car
infotainment displays, gaming devices and toys. All of these products will
incorporate Neonode’s NN1001 optical controller that has been developed in
close collaboration with Texas Instruments.
About BYD Co ltd
BYD, ranked the 8th most innovative company in the world by BusinessWeek in
2010, with customers like Toshiba, Dell, Nokia, Motorola, Samsung, Sony
Ericsson, Kyocera, Phillips, Huawei, ZTE, Lenovo, V-tech, Panasonic, and Sony,
is a manufacturer of hardware products, automotive, Notebook, Tablet, mobile
phone and rechargeable batteries based in Shenzhen, Guangdong province, China.
For more information visit www.byd.com.
About Neonode Inc.
Neonode Inc. (NASDAQ:NEON) develops and licenses the next generation of
MultiSensing touch technologies, allowing companies to differentiate
themselves by making high performing touch solutions at a competitive cost.
Neonode is at the forefront of providing unparalleled user experiences that
offer significant advantages for OEM's. This includes state-of-the-art
technology features such as low latency pen or brush sensing, remarkably high
speed scanning, proximity-, pressure-, and depth sensing capabilities and
Neonode’s patented MultiSensing technology is developed for a wide range of
devices like mobile phones, tablets and e-readers, toys and gaming consoles,
printers and office equipment, automotive or inflight infotainment systems.
NEONODE, the NEONODE Logo and zFORCE are trademarks of Neonode Inc. registered
in the United States and other countries. MULTISENSING, LIQUID SENSING, IT
MAKES SENSE and ALWAYSON are trademarks of Neonode Inc. For more information
please visit www.neonode.com.
This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. These include, but are
not limited to, statements relating to expectations, future performance or
future events, and product cost, performance, and functionality matters. These
statements are based on current assumptions, expectations and information
available to Neonode management and involve a number of known and unknown
risks, uncertainties and other factors that may cause Neonode's actual
results, levels of activity, performance or achievements to be materially
different from any expressed or implied by these forward-looking statements.
These risks, uncertainties, and factors are discussed under "Risk Factors" and
elsewhere in Neonode's public filings with the U.S. Securities and Exchange
Commission from time to time, including Neonode's annual report on Form 10-K,
quarterly reports on Form 10-Q, and current reports on Form 8-K. You are
advised to carefully consider these various risks, uncertainties and other
factors. Although Neonode management believes that the forward-looking
statements contained in this press release are reasonable, it can give no
assurance that its expectations will be fulfilled. Forward-looking statements
are made as of today's date, and Neonode undertakes no duty to update or
Daniel Gelbtuch, +1 917.509.9582
Annica Englund, +1-408-496-6722 #122
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