Shenzhen Wave Signs License Agreement for Smartphones and Tablets With Neonode®

SANTA CLARA, Calif.--(BUSINESS WIRE)--Neonode Inc., (NASDAQ:NEON), the optical touch technology company, announced today that Shenzhen Wave has licensed its patented Multisensing technology. Shenzhen Wave, which is a Consumer Electronics manufacturer in China, will be embedding Neonode's technology, into their new Android-based smartphones and tablets that are expected to ship in volume by year's end.

“We are happy to announce our new partnership with Shenzhen Wave, which is a forward looking company that is rapidly gaining market share in Asia”

The Shenzhen Wave smartphones and tablets will be incorporating Neonode’s Smartphone One platform, which was launched on October 10, 2012. Neonode Smartphone One is a versatile and fully integrated, low-power, multi-touch solution with proximity sensing features. The Smartphone One platform is particularly suited for next generation high-end smartphones and tablets, and is also suited for enhancing the user experience for feature phones.

“We are happy to announce our new partnership with Shenzhen Wave, which is a forward looking company that is rapidly gaining market share in Asia,” said Thomas Eriksson, CEO of Neonode. “We believe our Smartphone One platform to be the perfect choice for Shenzhen Wave's expanding range of mobile devices.”

“We anticipate that Neonode's flexible and high performing Multisensing solution, will provide a strong competitive advantage for our expanding portfolio of tablets and smartphones. Neonode’s leading-edge technology can be seamlessly integrated into our design, which enable us to build cost-efficient, high performing, and low-power devices, that cater to our broadening customer base,” said Shaolin Zhang, Chairman of Shenzhen Wave Group. “We look forward to working closely with Neonode for many years to come,” Mr. Zhang concluded.

About Shenzhen Wave

Shenzhen Wave Group is a high-tech enterprise in China. It was founded in 2001 and has grown to more than 2,000 employees in the last decade. The Company’s headquarter is located in Shenzhen. Based on its various business areas, including mobile communication RF units, dielectric material, precision and super-precision technique machining, surface treatment and multimedia products (mobile TVs, GPS equipment and mobile phone antennae, and mobile phone computers), Wave group has become one of the biggest Chinese group companies. www.wavegroup.net.cn

About Neonode Inc.

Neonode Inc. (NASDAQ:NEON) develops and licenses the next generation of MultiSensing touch technologies, allowing companies to differentiate themselves by making high performing touch solutions at a competitive cost. Neonode is at the forefront of providing unparalleled user experiences that offer significant advantages for OEM's. This includes state-of-the-art technology features such as low latency pen or brush sensing, remarkably high speed scanning, proximity-, pressure-, and depth sensing capabilities and object-size measuring.

Neonode’s patented MultiSensing technology is developed for a wide range of devices like mobile phones, tablets and e-readers, toys and gaming consoles, printers and office equipment, automotive or inflight infotainment systems. NEONODE, the NEONODE Logo and zFORCE are trademarks of Neonode Inc. registered in the United States and other countries. MULTISENSING, LIQUID SENSING, IT MAKES SENSE and ALWAYSON are trademarks of Neonode Inc. For more information please visit www.neonode.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements relating to expectations, future performance or future events, and product cost, performance, and functionality matters. These statements are based on current assumptions, expectations and information available to Neonode management and involve a number of known and unknown risks, uncertainties and other factors that may cause Neonode's actual results, levels of activity, performance or achievements to be materially different from any expressed or implied by these forward-looking statements.

These risks, uncertainties, and factors are discussed under "Risk Factors" and elsewhere in Neonode's public filings with the U.S. Securities and Exchange Commission from time to time, including Neonode's annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. You are advised to carefully consider these various risks, uncertainties and other factors. Although Neonode management believes that the forward-looking statements contained in this press release are reasonable, it can give no assurance that its expectations will be fulfilled. Forward-looking statements are made as of today's date, and Neonode undertakes no duty to update or revise them.