Neonode Enters Central European Market With HY-LINE

Rhea-AI Summary

Neonode Inc. (NASDAQ: NEON) has announced a distributor agreement with HY-LINE Computer Components GmbH to promote its sensor products in Germany, Switzerland, Austria, the Netherlands, and Belgium. The partnership formalized discussions that began in 2019 and aims to enhance Neonode's presence in central Europe. HY-LINE, noted for its expertise in display technology and embedded computing, will provide technical and logistical support. Both companies express optimism about the collaboration's potential for growth and improved customer solutions.

Positive

• Signed a distributor agreement with HY-LINE, expanding market reach in central Europe.
• Partnership leverages HY-LINE's technical and commercial expertise in technology solutions.

Negative

• None.

STOCKHOLM, July 2, 2020 /PRNewswire/ -- Neonode Inc. (NASDAQ: NEON), is pleased to announce it has signed a distributor agreement with HY-LINE Computer Components GmbH to promote and sell Neonode's sensor products in Germany, Switzerland, Austria, the Netherlands and Belgium. Neonode and HY-LINE started discussions during 2019 and have now formalized the partnership.

HY-LINE Computer Components GmbH, an independent company within HY-LINE Group, is an experienced technology partner and applications specialist in the fields of display technology, embedded computing, and signal management and transfer. HY-LINE has an extensive sales and distribution organization and works closely with its customers, providing technical, commercial and logistical support all the way from the definition phase to final series production.

"This agreement with HY-LINE increases our presence in key markets in central Europe. We are happy to partner with HY-LINE to increase the technical and commercial offerings of Neonode products and solutions to customers in this region" said Neonode CEO Dr. Urban Forssell.

Mr. Guido Bruening, President of HY-LINE Computer Components, added "We are impressed with the capability and range of Neonode's sensor solutions, and we look forward to better solving our customers' problems and a fruitful collaboration for both companies."

For more information, please contact:

Investor Relations
David Brunton
E-mail: david.brunton@neonode.com

Chief Executive Officer
Urban Forssell
E-mail: urban.forssell@neonode.com 

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SOURCE Neonode

FAQ

What is the significance of Neonode's agreement with HY-LINE?

The agreement enhances Neonode's market presence in Germany, Switzerland, Austria, the Netherlands, and Belgium, improving access to key European markets.

When did Neonode sign the distributor agreement with HY-LINE?

Neonode formalized the distributor agreement with HY-LINE on July 2, 2020.

What products will HY-LINE distribute?

HY-LINE will promote and sell Neonode's sensor products.

How does HY-LINE support Neonode's growth?

HY-LINE provides technical, commercial, and logistical support to enhance the offerings of Neonode products in the market.