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Electronics Production | February 18, 2009

Neonode launches new subsidiary

Neonode the Swedish mobile technology company has 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, has recently completed a financial restructuring, including the conversion of debt to equity and a capital raise transaction.

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 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.
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