Neonode Inc’s Swedish subsidiary files for bankruptcy
Despite the Neonode N2 being an interesting and very innovative device from Neonode Inc, it wasn’t enough to keep the company’s Swedish subsidiary, Neonode AB, afloat amidst the current financial crisis. In other words, Neonode AB has just filed for bankruptcy.
Neonode Inc CEO and Charmain Per Bystedt explains that they have been trying for the past six months to turn the business around and somehow solve the financial situation of Neonode AB. But as luck would have it, All attempts were unsuccessful. Bystedt further comments, “We continue to have great belief in our technology and believe we have a competitive product in the Neonode N2 but without sufficient funds we cannot continue operations.”
There is hope yet in this story, though. Neonode Inc will still continue to operate as a so-called technology licensing company, developing and marketing zForce, their internally-made and patented touchscreen technology that works with optical/infrared sensors instead of just relying on resistive or capacitive touchscreen displays. You can learn more about this in our short Neonode N2 review.
Neonode Inc as a company is also in the midst of a complete restructuring. After this, who knows? They might get up and really wow is with another new innovation in touchscreen development. If only they would catch on, that is.