Neonode (News - Alert) Inc. has expanded its global presence by achieving 18 MultiSensing touch technology design projects in the third quarter of 2012. The organization has now accomplished 58 design wins in 2012, marking an increase of 200 percent as compared to last year.
Neonode's optical touch technology and rising market grip are corroborated by the quality of these wins, their related OEMs, and expanded high-volume end-markets. With the launch of the NN1001 Single Chip Controller, developed by Neonode in association with Texas Instruments (News - Alert), the organization had forecasted a considerable rise in the number of wins during the first six months of 2012. During the third quarter, normally a slow quarter, the organization has further strengthened its niche in the market.
In a statement, Thomas Eriksson, CEO of Neonode Inc., said, "While there can be no assurance that these wins will ultimately ship, design activity for, and interest-in, our disruptive optical touch technology is intensifying. This is due to our technology's compelling value-proposition, which offers all the features and performance of competing touch technologies, at an extremely competitive price. With our latest solutions, it is possible to run all of our software directly on an Application/Baseband processor. This means that we can reduce hardware BOM cost even further, and at the same time deliver superior product-performance to our customers, while expanding the addressable markets for touch."
Neonode has 58 YTD wins across all main verticals by end market. These include 12 in automotive, 13 in office equipment, four in mobile phones, eight in tablets, five in toys and gaming, nine in e-readers and seven in other verticals. In the automotive sector, Neonode has accomplished platform wins at several Tier-One global automobile OEMs. Similarly, several multiple platform wins at Tier-One OEMs have been accomplished in office equipment and mobile phone segments.
The organization has also won both technology and industrial design projects for current and new customers in the tablets segment. In the toys and gaming segment, Neonode has won projects at prize-winning education-device OEMs. In the e-readers segment, Neonode has won five projects for existing customers and four for new customers. Other project wins include for after-market aviation and automobile GPS systems for tier-one companies.