Neonode® Wins Major Tier One Automotive OEM

SANTA CLARA, Calif.--()--Neonode Inc., (NASDAQ: NEON), the optical touch technology company featuring the Multisensing® Touch Technology, announced today that it has signed a multi-year license agreement with an undisclosed Tier One in-car–entertainment (ICE) and electronic equipment manufacturer.

To date, Neonode has signed license agreements with three Top-Ten ICE System OEMs, including Alpine, which was announced in July 2012. Neonode defines the Top-Ten, based on the rankings listed by Credit Agricole*.

Moreover, Neonode has to date acquired 20 design wins with multiple ICE System OEMs and Global Tier-One Automotive brands, including Volvo. The majority of these automotive OEMs expect to start production in 2014.

“We have specifically built our Multisensing® technology to create a first-class user experience in high performance and cost sensitive in-vehicle ICE and HMI systems. Thus we are delighted that a third Tier-One system OEM will be integrating our high-performing multi-touch technology into their next generation of in-car displays,” says Thomas Eriksson, CEO of Neonode. “We continue to see considerable opportunities for Neonode in the automotive industry, and our cooperation with yet another Tier-One OEM further anchors our position as a quality provider of disruptively-priced Multisensing® touch solutions,” concludes Eriksson.

Developed with strictest safety requirements in mind, Neonode’s Multisensing Technology for the Automotive Industry enables a bright, no-glare, and 100% readable display, with a full operating temperature range. Other advantages are built-in diagnostics that alert its operational status to other on-board systems. It can also easily be used with any type of object such as for example gloved fingers. In addition, Neonode’s new proximity sensing solutions adds extended and intuitive reach with air gestures and sensors, for example on the steering wheel or other objects and surfaces in the car.

*) The Delphi initiation report, dated 1/7/13, authored by Auto-Sector analyst Emmanuel Rosner.

About Neonode

Neonode Inc. (NASDAQ:NEON) develops and licenses the next generation of optical infrared touch and proximity solutions for some of the world’s largest brands. 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, white goods, and automotive HMI and infotainment systems. NEONODE, the NEONODE Logo, MULTISENSING, and zFORCE are trademarks of Neonode Inc. registered in the United States and other countries. 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.

Contacts

Investor Relations Neonode:
Daniel Gelbtuch, +1 917-509-9582
daniel.gelbtuch@neonode.com
Media Contact Neonode:
Annica Englund, +46 760 360 781
annica.englund@neonode.com

Release Summary

Neonode signs license agreement with Tier One in-car–entertainment (ICE) and electronic equipment manufacturer.

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Contacts

Investor Relations Neonode:
Daniel Gelbtuch, +1 917-509-9582
daniel.gelbtuch@neonode.com
Media Contact Neonode:
Annica Englund, +46 760 360 781
annica.englund@neonode.com