SANTA CLARA, Calif.--()--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”
“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,” Eriksson continued.
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 object-size measuring.
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 revise them.