Neonode and EIL Join Forces to Address Contactless Touch Market in China

Rhea-AI Summary

Neonode Inc. (NASDAQ: NEON) has signed a value-added reseller agreement with EIL Company Ltd. to promote and sell contactless touch solutions in China and Hong Kong. CEO Urban Forssell expressed enthusiasm for expanding their footprint in the Chinese market, citing EIL's expertise as a significant asset. EIL's CEO Ronnie Kong praised Neonode's technology and anticipated a mutually beneficial partnership. This collaboration aims to enhance Neonode's business presence in a growing market.

Positive

• Signing of a value-added reseller agreement with EIL Company Ltd. to expand market presence in China and Hong Kong.
• Potential for growth in the contactless technology market through collaboration with EIL, which possesses experience and capabilities.

Negative

• None.

STOCKHOLM, Oct. 13, 2021 /PRNewswire/ -- Neonode Inc. (NASDAQ: NEON), is pleased to announce that it has signed a value-added reseller agreement with EIL Company Ltd. to design, promote and sell contactless touch products and solutions featuring Neonode contactless technology in China and Hong Kong.

"We are excited to work with EIL and increase our footprint in China. EIL is an experienced and capable company and we see a great potential to grow our contactless business in China together with them," said Urban Forssell, CEO of Neonode

Ronnie Kong, CEO of EIL, said: "We are impressed with the performance and versatility of Neonode's contactless technology, and we look forward to better solving our customers' challenges and a pure win-win collaboration."

For more information, please contact:

CONTACT:

Investor Relations
David Brunton
E-mail: david.brunton@neonode.com
Phone: +1 925 768 0620 
 
Chief Executive Officer
Urban Forssell
E-mail: urban.forssell@neonode.com 

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Neonode and EIL Join Forces to Address Contactless Touch Market in China

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SOURCE Neonode

FAQ

What is the value-added reseller agreement between Neonode and EIL Company Ltd.?

Neonode has signed a value-added reseller agreement with EIL Company Ltd. to promote and sell contactless touch solutions in China and Hong Kong.

How will the partnership with EIL affect Neonode's business?

The partnership is expected to enhance Neonode's footprint and growth in the contactless technology market in China.

When was the agreement between Neonode and EIL announced?

The agreement was announced on October 13, 2021.

What technology is Neonode providing through this partnership?

Neonode is offering contactless touch products and solutions featuring its contactless technology.

What is Neonode's stock symbol?

Neonode trades under the stock symbol NEON on NASDAQ.