14 DAY TRIAL // For those of you unaware of Neonode's legacy, know that this company is involved in the development of touchscreen technologies, and it is one of the greatest at the moment. Many of you may be using touchscreen devices and features that this mobile communication company has developed.
Unfortunately for Neonode, lately, business is not as usual, probably because of the financial crisis that has been affecting most companies, and it seems that Neonode Inc. will not be one of the exceptions. Depending on the perspective from which you consider this issue, the fact that its Swedish subsidiary, Neonode AB, has filed for bankruptcy may be regarded as a pretty disastrous event.
In this train of ideas, Per Bystedt, CEO and Chairman of Neonode Inc. says of their Swedish branch that, "For the past six months we have focused on turning the business around and solving the financial situation of Neonode AB. 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."
This is not the first time that this particular branch has had problems, and it seems that despite the mother company's efforts, the troubles that began a few months ago could not be kept under control, and therefore, such a development was possible. Moreover, it should be added that on October 22, the American parent company, Neonode Inc. took measures and announced the restructuration of its AB branch, going as far as reconstructing the whole subsidiary company. Unfortunately, these measures did not make any difference in the end, but only prolonged the agony, as Mr. Byerstedt also declares – "We have had a good dialogue with many of our creditors and tried a number of different solutions, but unfortunately we have been unable to reach a satisfactory solution for all parties."
Still, Neonode Inc. is claiming that it will go on about its business as usual, starting to develop and license more technologies, and rebuild itself bit by bit.