Neonode® Expands Global Reach With 58 New MultiSensing™ Touch Technology Design Wins YTD
Third Quarter 2012 Design Win Update
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Neonode Inc (NASDAQ: NEON), the optical touch technology company announced today that the company added 18 new design-wins during the third quarter of 2012 (ended September 30th), to bring the year-to-date total to 58, which is up over 200% year-over-year. More significantly, the quality of these wins, their associated OEMs, and diversified high-volume end-markets further validate Neonode's (NEON) optical touch technology and increasing market traction. A substantial increase in the number of wins in the first half of 2012 was expected due to the release of the NN1001 Single Chip Controller, developed together with Texas Instruments, in the beginning of the first quarter. The excellent traction has strengthened in the third quarter, which normally is seasonally soft.
By end market, Neonode has 58 YTD wins across all key segments, including:
- Automotive (12) - includes platform wins at multiple Tier-One global automobile OEMs
- Office Equipment (13) - includes multiple platform wins at Tier-One OEMs
- Mobile Phones (4) - includes wins at Tier-One handset OEMs
- Tablets (8) - includes both technology and industrial design wins with existing and new customers
- Toys and gaming (5) - includes wins at award-winning education-device OEM
- E-readers (9) includes five wins at existing customers and four new customers
- Other segments (7) includes Tier One wins for after-market aviation and automobile GPS systems
"While there can be no assurance that these wins will ultimately ship, design activity for, and interest-in, our disruptive optical touch technology is intensifying. This is due to our technology's compelling value-proposition, which offers all the features and performance of competing touch technologies, at an extremely competitive price. With our latest solutions, it is possible to run all of our software directly on an Application/Baseband processor. This means that we can reduce hardware BOM cost even further, and at the same time deliver superior product-performance to our customers, while expanding the addressable markets for touch," said Thomas Eriksson, CEO of Neonode, Inc.
Compared to standard capacitive touch solutions, Neonodes patented optical infrared technology is known for its high yield, market-leading speed (e.g. scanning rate is 8-15x faster than capacitive) and pristine resolution. Manufacturers enjoy the freedom of design since layering on top of the display is optional, thus providing a thinner design and 100% transparency, which significantly improves image quality, eliminates glare, and substantially expands battery life.
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 object-size measuring.
Neonodes 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 revise them.
Daniel Gelbtuch, +1-917-509-9582 (Investor Relations)
Annica Englund, +1-408-496-6722 #122 (Media)
Source: Neonode IncCopyright Business Wire 2012