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Neonode, Inc's CEO Discusses Second Quarter Results - Earnings Call Transcript

Our next important mission is is (inaudible) qualification. We now have an (inaudible) qualified technology which makes it possible for us to deliver state-of-the-art solutions to the automotive industry. Our success in this space show that our technology has clear advantages over existing touch technologies and as we deliver a compelling solution together with our hardware partners.

We also started development of the next generation controller chips for further cost reduction for our customers and higher integration for larger systems with new function. We also have got some projects ongoing with special versions of the controller optimized for different products (inaudible).

I want to talk to you a little bit about progress with our custom design (inaudible). More than anything, I look at the (inaudible) as a good measure of future growth. I already talked about the importance of the controller chip has been verified with a number of (inaudible) this year. They reported 17 design wins last quarter

In this quarter, we now opened an additional 23 design wins which makes a total 40 design wins so far this year and (inaudible) 800% of the design wins are in the growth markets like (inaudible) entertainment systems, toys and games, and also office equipment. Some will go into production this year but the majority next year.

Also look at actual customer contracts and I think this is also an important metric to our success. As previously reported in the first quarter of this year, we signed four customer contracts. During this quarter, we signed another three contract and another one in July. So of today, we have a total of 20 customer license agreement signed and several more in the pipeline.

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