Neonode Signs Multi-Sensing Technology License Agreement With Leading Office Equipment Manufacturer
Neonode, Inc. (OTCBB: NEON), the optical touch technology company, today
announced it has entered into a multi-year technology license agreement
with one of the leading global manufacturers of office equipment.
Neonode, Inc. (OTCBB: NEON), the optical touch technology company, today announced it has entered into a multi-year technology license agreement with one of the leading global manufacturers of office equipment. The first product, based on Neonode’s Multi-Sensing solution, is expected to be launched by the third quarter of 2012. “Thanks to our high performing Multi-Sensing technology, our customer can now offer a premium user experience and much higher performance with their low cost, high volume entry model office products,” said Thomas Eriksson, CEO of Neonode. “The outdated, low-performance resistive touch technology, still used in most office products, is now - for the first time - replaced by a zForce high-performance solution at the same or an even more competitive cost.” Under the terms of the agreement zForce, Neonode’s industry leading Multi-Sensing technology, will be integrated with the color LCD panels on a certain range of office equipment. Neonode has already completed the integration of zForce with the first batch of products included in the agreement. Neonode will receive an undisclosed license fee for each unit of the products sold that features the Multi-Sensing technology. There is no minimum or maximum total amount of license fees that Neonode can receive as a result of this customer agreement. Neonode’s Multi-Sensing technology is suited for nearly any product of any size, with any type of display or surface. About Neonode, Inc.Neonode, Inc. (OTCBB: NEON) is a provider of optical touch technologies. Neonode offers technology licenses and engineering design services that enable companies to make high functionality touch solutions at competitive cost. Neonode's customers include Sony, L&I and Sonim. Neonode is characterized by unparalleled user experiences with Multi-Sensing technologies that offer significant advantages with features such as low latency pen or brush sensing, high speed scanning, proximity sensing, pressure sensing and object-size measuring. Neonode’s patented Multi-Sensing solution is developed for smart phones, tablets, toys, gaming consoles and devices, printers and office equipment, e-readers and automotive or inflight infotainment systems. Neonode and zForce are registered trademarks of Neonode, Inc.For more information, please visit www.neonode.com.Forward-Looking StatementsThis 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 revise them.