Neonode (NEON) Enters zForce AIR Supply Contract with Vehicle-Entry Systems OEM
- Wall Street dips as telecoms slump; AmEx surges
- Microsoft (MSFT) Tops Q1 EPS by 8c
- AMD (AMD) Posts Q3 Operating EPS of 3c; Sees Q4 Revenue Down Sequentially
- AT&T (T) Said to Discuss Idea of Takeover in Time Warner (TWX) Meetings
- After-Hours Stock Movers 10/20: (CERC) (ALKS) (PFPT) (MSFT) Higher; (SKX) (RRGB) (AMD) Lower (more...)
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Neonode Inc. (Nasdaq: NEON) has signed a contract to supply its zForce AIR sensor modules to a US-based automotive OEM for vehicle entry systems, adding to Neonode’s list of automotive customers, who have already shipped over 1 million cars -- in over 30 different car models -- with zForce® technology. The value of the contract exceeds USD11M over its term starting in Q3, 2017.
zForce AIR technology, the technology that powers the AirBar™ device that brings displays to life by adding touch and gesture sensing to both new and existing PCs, can also be adapted to fit the most diverse automotive applications.
The automotive industry is currently reinventing itself, going through some of the biggest changes in its history. This increases the demand for innovative and cost effective sensor solutions and applications. zForce AIR sensors are thin, modular strips inserted along only one edge of a detection area, making integration easy for this wave of creative innovation. zForce AIR sensors bring the most advanced sensor technology to automotive OEMs with the quality and reliability that the auto industry requires, and that our customers, including Alpine, Bosch and Volvo, to name a few, have come to expect from Neonode.
The robust zForce AIR sensor is suitable for multiple deployments within one vehicle, including infotainment systems, entry systems, interactive steering wheels, as well as any surface inside or outside the vehicle to which an auto manufacturer wants to add touch or proximity sensing functionality. We expect to see multiple opportunities for deploying zForce AIR sensors in cars in the very near future, and in self-driving cars. To this end, Neonode is in the process of obtaining automotive-class certification for its zForce AIR module production facility in Sweden.
“We are extremely pleased to have our new sensors leading the way for entry systems in the automotive industry. We see this new supply contract as further evidence that Neonode will be a solid force in the automotive segment,” said Gunnar Fröjdh, VP Automotive Sales.
“The automotive industry represents large potential long term growth and stability in our global expansion plans. Neonode’s zForce technology is already installed in over 1 million cars today and its reliability and performance are proven in the industry,” concluded Thomas Eriksson, Neonode CEO.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- ARIAD Pharma (ARIA) Acknowledges Receipt of Congressional Letter; Issues Commentary
- Red Robin Gourmet Burgers (RRGB) Prelim. Q3 Results Miss Expectations
- SunEdison (SUNEQ) Approved to Sell Solar Materials Business to GCL-Poly Energy - Bloomberg
Create E-mail Alert Related CategoriesCorporate News
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!