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Neonode Reports Quarter Ended September 30, 2012 Financial Results

Stocks in this article: NEON

Neonode Inc. (NASDAQ:NEON), the MultiSensing touch technology company, today reported financial results for its third quarter and nine months ended September 30, 2012.

Third Quarter Highlights:

  • 18 design wins during the quarter, bringing the year to date total to 58, of which 49 were for non e-readers
  • Signed 2 new licensing agreements during the quarter for a total of 9 in the first nine months of 2012
  • Launched the Smartphone I platform
  • Launched a User Interface and Industrial Design licensing business that has initial design wins
  • Opened a new office in Tokyo, Japan to accommodate growing new market design activity in the region
  • Increased Intellectual Property activities to support new user interface licensing business

“I am extremely pleased with our success in penetrating four new high volume market segments. We currently have 13 design wins with some of the largest office equipment OEMs and 12 design wins for automotive infotainment systems, across a majority of the global automotive OEMs. We have 4 design wins in the mobile phone space, and are gaining significant attention in low-cost high-volume feature phone segments. I am also very excited to see that we are becoming the market’s premier touch solution provider for toys and gaming devices for kids, where we have 5 design wins, including the MEEP tablet made by Oregon Scientific released to the market in August” stated Neonode CEO Thomas Eriksson.

“Although we have faced some near-term challenges, and the e-reader market has not been as significant as initially expected, we do expect most of our customers to launch other types of exciting products in 2013. We remain optimistic about the coming quarters and expect to achieve profitability and experience significant growth during 2013”, concluded Eriksson.

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