SANTA CLARA, Calif., June 26, 2014 (GLOBE NEWSWIRE) -- Neonode Inc ., (Nasdaq: NEON ), the optical touch technology company is providing a summary of its recent market-update conference call, which was held on Monday, June 23, 2014.
A replay of this call is available at (800) 585-8367 or (404) 537-3406, and the conference ID is 64071210.
The following are the main points of the recent conference call:
- Hewlett Packard is Neonode's flagship printer partner, who just started shipping its first three printers using Neonode technology. Neonode expects this foundational partnership will continue to flourish going forward. Neonode has a license and wins with a second Tier One printer OEM and is currently talking to other Tier One printer OEMs.
- Propoint and Alpine, who are suppliers to Volvo, are two of Neonode's auto licensees and strong partners. Neonode is not in the business of advertising competing technologies on our website.
- Neonode Chairman Per Bystedt is a party to civil litigation involving a 13 year old transaction in Sweden, that has absolutely no bearing on, or relevance to, Neonode Inc. Moreover, Mr. Bystedt was the Chairman of a football team in Sweden that once (2006) was fined for a late filing. The minimal late fee was paid and the matter was closed.
- Neonode Inc. has never been bankrupt, while its handset manufacturing subsidiary, Neonode AB, filed for bankruptcy in late 2008. Neonode settled all claims cleanly, and re-emerged as a technology licensing company in 2009. Moreover, management expects that the recent $10M capital raise will enable Neonode to execute on its business plan, while allowing the company to fully address all the emerging PC and printer market opportunities.
- As clearly demonstrated by Microsoft's Windows 8 Certification (March 2014), and strong patent base (41 issued patents and 93 pending), Neonode's technology is not subpar, dated, or obsolete. Neonode's licensing base includes companies such as HP, Amazon and Sony presumably only spend time, money, and resources to license and develop products based on cutting-edge technologies.
- We expect the combination of Neonode's zForce™PLUS™ (Windows 8 certified PC solutions) and zForce™AIR™ (open-air gesture control) solutions, will disrupt the PC markets (All-in-ones, monitors, laptops, and peripherals), due to its high-performance (certified by Microsoft), lowest cost (by as much as 50%, relative to the competition), and its game-changing proximity-sensing "killer apps". Thus, Neonode is in very active discussions with Tier One PC OEMs, and is increasingly focused on its brightening PC growth vertical.
About Neonode
Neonode Inc. (Nasdaq: NEON ) develops and licenses the next generation of Multisensing touch technologies, allowing companies to differentiate themselves by making high performing touch and proximity 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 and proximity technology features such as low latency pen or brush sensing, high speed scanning, proximity, pressure, and depth sensing capabilities and object-size measuring.
Neonode's patented Multisensing technology is developed into a wide range of devices such as All-In-One PCs, Notebooks, Monitors, e-readers, Printers, White Goods, Wearable's, Mobile and PC Accessories, 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. zForce AIR and zForce PLUS are trademarks of Neonode Inc. For more information please visit www.neonode.com .
Forward-Looking Statements
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.
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 effects the customer's development process.
© 2014 Neonode Inc. All rights reserved.
Neonode is a registered trademark of Neonode Inc.
For more information, please contact: Investor Relations: Daniel Gelbtuch P: +1 917.509.9582 E-mail:
