Neonode Signs Serial Microelectronics (HK) as Distributor to Chinese Market

Date : 07/08/2019 @ 11:27AM
Source : PR Newswire (US)
Stock : Neonode Inc (NEON)
Quote : 2.526  0.076 (3.10%) @ 9:53PM

Neonode Signs Serial Microelectronics (HK) as Distributor to Chinese Market

Neonode (NASDAQ:NEON)
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STOCKHOLM, July 8, 2019 /PRNewswire/ -- Neonode Inc. (NASDAQ: NEON), the optical sensing technology company, today announced that it has signed a distributor agreement with Serial Microelectronics (HK) Limited to promote and sell Neonode's sensor products in China, Taiwan and Hong Kong through Serial's extensive sales and distribution organization.

Serial Microelectronics (HK) Limited is a subsidiary of Serial System Ltd., a company listed on the Mainboard of the Singapore Stock Exchange. The Serial System group, with over 30 offices and 13 warehousing facilities in key Asian markets, is focused on selling high-value component modules to the security and surveillance, automotive, smart home and IoT segments. In 2018, Serial System group generated over US$1B in annual sales in China and Hong Kong alone.

"This agreement with Serial is another step in the Company's strategy to increase its sales and marketing presence in key markets, following on our agreement with Convergence Promotions LLC for the North American market announced in March earlier this year. The Chinese market is critical to the Company's success and we welcome the opportunity to partner with Serial to increase our exposure in China, Taiwan and Hong Kong," said Håkan Persson, CEO of Neonode Inc.

Derek Goh, CEO of Serial System Ltd. said, "We are impressed with the quality and range of sensor solutions that Neonode has to offer, and we look forward to a very fruitful collaboration for both companies."

For more information, please contact:

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

Chief Financial Officer
Maria Ek
E-mail: maria.ek@neonode.com

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https://news.cision.com/neonode/r/neonode-signs-serial-microelectronics--hk--as-distributor-to-chinese-market,c2859369

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SOURCE Neonode

Copyright 2019 PR Newswire

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