SANTA CLARA, Calif., Sept. 4, 2013 (GLOBE NEWSWIRE) -- Neonode Inc., (Nasdaq:NEON), the optical touch technology company, today announces that it has entered a new worldwide license agreement with a second undisclosed Tier-One Consumer Electronics OEM in South Korea, to incorporate its patented MultiSensing® technology into high-volume consumer applications.
"This landmark agreement is a major milestone for Neonode, as it is a testament to our ability to deliver outstanding value for the largest global OEMs. We are extremely excited to bring our feature-rich technology to a celebrated global brand of this size and stature," said Thomas Eriksson, CEO of Neonode.
Neonode's increasing success in nascent consumer markets such as tablets, home appliances, wearable tech and PCs, is due to its patented MultiSensing® technology, which offers OEMs an extraordinary value proposition. In addition to its efficient feature-rich solutions, which enable best-of-breed performance at low cost, Neonode's low latency air gestures, unique form factors (e.g. round multi-touch sensors) and compelling roadmap, provide Consumer Electronics OEMs with a rich palette of possibilities.
"With our exceptional value proposition for touch and proximity solutions, a seamless integration process, and fewer suppliers to manage, Neonode can help licensees drive innovation, speed-up their time to revenue, and deliver an enhanced user experience," Eriksson concludes.
Neonode only releases news of new customer agreements and design wins that are considered to be potentially material. Although every reasonable effort is made to present current and accurate information, Neonode makes no guarantees of any kind. Even if the customer or partner always has the intention to actually launch a commercial product or product line in high volume, there is no guarantee that this will be the case. Besides the touch solution, a commercial product involves many other components and systems that affect the customer's development process.
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 touch 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 such as mobile phones, tablets and e-readers, toys and gaming consoles, printers, white goods, wearable goods and advanced automotive infotainment systems. Neonode, the Neonode logo, Multisensing, and zForce are trademarks of Neonode Inc. registered in the United States and other countries. 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.