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Electronics Production | September 21, 2007

Neonode's CEO speaks his mind

Some words from mobile phone newcomer Neonode's President and Chief Executive Officer, Mikael Hagman.
What is currently happening at Neonode?

Neonode is pursuing its strategy. Our first objective was to establish sales channels across relevant markets in Europe for Neonode N2. We have been successful in this and I believe that we
will have good sell through in all our markets. The first indications of sell through in Greece have been very positive and our web sales platform continuously sells out of stock.

Our second phase of the defined strategy involves other markets such as Asia and the US. The necessary groundwork is being done in both markets in preparation for 2008. In addition, we are working on our technologies and patents that we offer to companies who want to differentiate their product by employing the Neonode unique User Experience.

What is your definition of UX?

UX is our definition of the total experience between human and device. It ranges from touch and feel all the way down to how easily your applications are to use and access. UX is the DNA of Neonode, we have a leading edge after almost 7 years of development in this area, we have IP to substantiate our work and we truly believe there are enough complicated devices out there to be a substantial market.

What kind of reactions have you received from the market of the new Neonode N2?

The response to Neonode N2 has been great. As mentioned we have a high demand in our web shop and we have received amazing reviews. I believe we are off to a great start.

What are your targets, your goals, with Neonode N2?

Our ambition with the Neonode N2 is to demonstrate to our audience that the Neonode way of doing things is not only different but better, simpler, more intuitive and definitely fun. We hope to reach as many people as we can within the constraints we have as a smaller player in the market. If we had an army of people and massive cash we could roll out globally in a month, but we are a smaller company and we need to make our mark through creativity.

What is the reason for only launching Neonode N2 on the European market?

We consider Europe our home market. It is more fragmented and open to alternative business models. Our phone was originally developed for the European market and we have received a lot of interest from various parts of it.

Neonode recently acquired a US company and became listed on the NASDAQ stock exchange. What was the reason for choosing a listing on the NASDAQ stock exchange instead of a European stock exchange?

We believe that NASDAQ is the right place for a company like Neonode to be. Many of our suppliers, competitors, customers and partners are present there. A listing on NASDAQ gives us access to capital and we believe that the NASDAQ investor community really understands what we are trying to achieve.

What will the next chapter of Neonode include?

In 2008 you should see further geographical expansion of Neonode, deals and partnerships on technology as well as a continued expansion of our European footprint. Each year has been exciting at Neonode, but with the prospects we have for 2008, it should be the most exiting year yet.

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