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Neonode licenses touch screen technology to global phone manufacturer

Last updated: 18:20 11 Feb 2011 GMT, First published: 19:20 11 Feb 2011 GMT

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Neonode (OTC:NEON) said Friday it has licensed its zForce touch screen technology to a global phone manufacturer, which will incorporate it into Android-based phones.

Neonode did not disclose the name of the manufacturer or the financial terms of the license.

"With our new low cost, low power consumption zForce alwaysON touch solution we offer a very compelling business case for manufacturers of smart phones and feature phones in the high volume segment," said CEO Thomas Eriksson.

The design win is the company's first in the mobile phone space, Eriksson said.

To qualify as a design win in the mobile phone category, Neonode requires the product using the technology to have a projected annual sales volume of at least 1 million units.

The Swedish firm's zForce touch screen technology, which is currently used in digital ebook readers and tablet computers, supports pen input as well as finger navigation.

As of 1:13 pm EST, the company's shares rallied 7% to trade at 10.7 cents. The shares have more than tripled over the past year.

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