Neonode Completes Financial Restructuring and Launches New Touch Screen Solution Subsidiary BARCELONA, Spain--(BUSINESS WIRE)--Feb. 18, 2009
Neonode, Inc. (NEON.OB), the Swedish mobile technology company, today
announced the launch of Neonode Technology AB, a new wholly owned
subsidiary that focuses entirely on providing and developing optical
touch screen solutions for hand-held devices. Neonode, Inc. has recently
completed a financial restructuring, including the conversion of debt to
equity and a capital raise transaction.
The Company is a leading provider of optical touch screen solutions for
hand-held devices. By launching Neonode Technology and completing the
financial restructuring, the Company can further increase its
development resources in the field of optical touch systems for
hand-held devices. The Company, through its touch screen solution
subsidiary, aims to be at the center of development of the next
generation of hand-held touch screens. With its engineering design
expertise, Neonode Technology also plans to help customers implement
customized touch screen solutions.
“The demand for touch screens for hand-held devices is booming. Mobile phones, GPS devices, E-books are all becoming high volume products and the touch screen is often the most expensive part of a device. Industrial hand-held touch screen usage also is increasing significantly. Our plan is to establish ourselves as the leader in the field of hand-held touch. With the aid of the new optical technologies that we are developing, we feel confident that we can challenge the prevailing resistive and capacitive touch screen technologies,” said Thomas Eriksson, CEO of Neonode Technology AB and co-founder of Neonode, Inc.
For more information:
| Thomas Eriksson, CEO, Neonode Technology AB |
| Linnegatan 89 |
| 11523 Stockholm, Sweden |
| Tel: +46 8 521 337 |
| |
| David Brunton, CFO, Neonode, Inc. |
| Tel: +1 925 768 0620 |
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