SANTA CLARA, Calif. – July 7, 2011 – Neonode, Inc. (NEON.OB), the optical touch screen technology company, today announced that it entered into a multi-year technology license agreement with Onyx International Inc, a company incorporated in China, to use Neonode’s touch screen solution in its family of eReader and Tablet PC products. Onyx makes and sells products that are branded under its own name and develops and produces products that are branded and sold by other OEM’s. Onyx plans to launch its first product using zForce® during the fourth quarter of 2011 and is targeting markets in Asia and Europe.
Neonode has a dominant position in the world’s premier touch screen eReader market. Neonode’s patented touch screen technology, zForce®, supports high resolution pen writing in combination with finger navigation that includes gestures, multi-touch, sweeps and much more. Unlike resistive and capacitive touch screens, zForce® touch screens have no overlay on top of the display window and provide a 100% clear viewing experience, free from reflection and parallax effects. zForce® is many times more cost effective than any other high performance touch solution in the market today.
Industry projections, by the Yankee Group published on February 8, 2011, project that the sales of eReaders will increase from the estimated 11 million eReaders sold in 2010 to a projected sales of 72 million eReaders in 2014. In addition, a new report by the Pew Internet organization reported that between November 2010, and May 2011, eReader ownership among adults in the United States doubled from 6% to 12%. Neonode believes it is well positioned to take advantage of the growth in this market because its zForce® product line allows it to address the entire eReader market as the migration from traditional buttons to touch screen accelerates.
“We continue to solidify our dominant position in the expanding worldwide market for touch screen eReader products. We are also increasing our presence in the growing Tablet PC market that uses the traditional LCD display panels. Tablet PC manufacturers are selecting zForce® over the traditional capacitive solutions for these products because of cost and functionality advantage,” said Thomas Eriksson, CEO of Neonode, Inc.
About Neonode Inc
Neonode Inc is the leading provider of optical touch screen solutions for hand-held and small to midsize devices. Neonode is offering software licenses and engineering design services that enable companies to make high functionality touch screens at a low cost. zForce® is the name of Neonode’s proprietary patented touch screen technology. Neonode Inc is listed on the OTCBB under the symbol NEON.OB. Neonode is a trademark and zForce® is a registered trademark of Neonode Inc.
This news release contains certain forward-looking statements that involve risks and uncertainties, including statements regarding future products and technology developments. Such statements are only predictions and the company’s actual results may differ materially from those anticipated in these forward-looking statements. Factors that may cause such differences include, but are not limited to, the ability of Neonode to develop and sell new products and technologies. These factors and others are more fully discussed in the documents the company files from time to time with the Securities and Exchange Commission, particularly, the company’s most recent Form 10-K and Form 10-Q. Neonode and the Neonode logo are registered trademarks of Neonode Inc.
For more information, please visit neonode.com or contact
Thomas Eriksson, CEO
Tel: +46 8 667 17 17
Mobile: +46 708 521 337
David Brunton, CFO
Tel: +1 925 768-0620