Neonode Inc. Enters Asian Distribution Deal for Neonode N2

Neonode, the Swedish mobile communication company that develops touch screen technologies and designs mobile handsets, announced that Excel Field International LTD, an Asian distributor, has placed an initial $1.1 million order for the Neonode N2 handset for April.

Excel Field International has direct reach to 4,000 retail outlets in Indonesia, Malaysia, Singapore, Taiwan and Thailand throughout which the Neonode N2 will be distributed.

“We are delighted to add Excel Field International to our growing list of global partners. They will play an important role when we now enhance our focus of moving into the Asian market and the relationship also represents an important step forward in achieving our 2008 sales target of 200,000 phones,” said Per Hellberg, Vice President of Sales at Neonode.

“The interest for our phones and technology has been strong in these markets and through Excel Field’s relationship with key carriers and retailers within the region, we are now well-equipped to establish Neonode as a niche player and not only compete against the big established players in the region, with Nokia and Samsung in top, but also the smaller local players on their home markets,” Hellberg continued.

A recent JPMorgan report forecast unit shipments of handsets in Asia-Pacific would reach almost 540 million units in 2008, which was over three times more than the 161.6 million units they expected would be sold in the United States. IMS Research indicates that the Asian market will see 10.7 percent year-over-year growth in 2008, compared to 7 percent growth for the United States.

“Neonode is at the forefront of touch screen technology and the Neonode N2 is highly capable of presenting the next big thing in the market. We are happy to include such an innovative Scandinavian brand in our portfolio,” said Brian Ho, CEO and Founder of Excel Field International LTD.