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Electronics Production | August 31, 2006

Neonode & Note break contract

Sweden based mobile phone maker Neonode has withdrawn from an outsourcing contract with EMS-provider Note AB.
Note AB presented during 2004 a contract for production and distribution of Neonode's own developed cellular phone model N1. The contract which included manufacturing and distribution of the N1 model was the biggest in Note's history.

Neonode later in 2004 announced that a Russian-British consortium would sell 100.000 Neonode phones in Russia and Eastern Europe during 2005. However Neonode's total sales for 2005 ended in less than 1.2 million Euros, which is equal to 5000 units sold or 20% of the 100.000 units forecasted.

Neonode also owes Note a certain amount of cash. According to Arne Forslund, CEO Note, a negotiation of the debt clearances is in progress.

Neonode is currently looking for a new production partner.
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