Neonode Inc. announced a new license agreement with NEXTY Electronics Corporation for its Touch Sensor Module (TSM) technology. NEXTY Electronics, an electronics trading company within the Toyota Tsusho Group, will utilize Neonode's SMT-based TSM technology for sensor development and manufacturing of next-generation amusement machines for a leading Japanese manufacturer. This agreement includes an upfront technology access fee and future royalties, with an estimated value of US$2-3 million over the next four to five years.
NEXTY Electronics selected Neonode's latest SMT-based TSM offering due to its ability to enable touch interactivity on larger displays and surfaces at a lower cost. The technology is easily integrated using a single-sided TSM sensor, providing high performance and value for touch-operated applications. NEXTY Electronics will be responsible for manufacturing the TSMs in Japan for distribution within the Japanese amusement market and other regions seeking cost-effective touch functionality on large displays.
Fredrik Nihlén, Neonode's interim President and CEO, stated that this decision by NEXTY Electronics validates the company's licensing-focused business strategy. The deepened relationship with NEXTY Electronics, a former TSM reseller, underscores confidence in Neonode's innovative licensable technologies. This agreement marks a key step in Neonode's transformation towards a pure technology licensing company.
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