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Electronics Production | March 30, 2005

Neonode takes off

The Swedish independent mobile handset developer Neonode has sign an agreement with a Russian-British consortium worth 1,5 Million Euros. Neonode has also signed a distribution agreement with the consortium, which controls retailers in Russia, Ukraine and the Baltic States.
The consortium, wihch is under leadership of VTCom in Russia, has exclusive rights to distribute the handset in these markets. Neonode’s total sale is today between 300.000 and 400.000 Euros. Neonode’s handset is produced by Swedish EMS Provider NOTE AB, which will produce 100.000 units during 2005. This quota will be filled if the consortium reaches its target. A sale of 100.000 units would be an estimated turn over of 200 – 300 Million Euros for Neonode, according to Swedish daily news paper Dagens Industri.

Viacheslav Voytov, CEO VTCom Russia, comments: - Neonode has a huge potential on the Russian mobile market, which grows explosively. The new N1m model is unique with its design and user-feeling. We have made extensive market investigations and expect a strong sale of up to 100.000 units during 2005. We will commit strongly to Neonode with, among other things, an extensive commercial campaign in national television.

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November 14 2017 8:30 PM V8.8.9-1