NMGC Neomagic Corp (MM)

SANTA CLARA, Calif., July 19 /PRNewswire-FirstCall/ -- NeoMagic Corporation (NASDAQ:NMGC), announced today that it is ramping shipments of the MiMagic 6+ application processor for Neonode to meet the anticipated demand from a growing number of customers for Neonode's latest N2 multimedia phone. The newest addition to Neonode's growing customer list is the mobile operator Telenor and its retail outlet Telenor Express. Telenor is expected to start sale of the N2 device in September 2007. (Logo: http://www.newscom.com/cgi-bin/prnh/20020802/NMGCLOGO) Other Neonode customers include Myphone, a distributor in Europe for operators such as Vodaphone and Wind, and AEG Portuguesa, S.A., one of the major distributors of cell phones and accessories in Portugal with a presence in Brazil, Mozambique, Angola and Cabo Verde. "Neonode's N2 phone is a fantastic product. We are pleased that NeoMagic'c MiMagic 6+ multimedia application processor has enabled Neonode to produce such an innovative device," said Douglas Young, President and CEO of NeoMagic Corporation. "We are witnessing a growing market acceptance for a new class of touch- screen only handsets. NeoMagic's unique architecture and Neonode's pioneering design have resulted in a best of breed device in this new class of handsets. The N2 has a host of multimedia features, a patented sweep touch-screen user interface and a unique small form-factor. We are continuing to work closely with NeoMagic to develop and bring innovative products to the market," said Mikael Hagman CEO of Neonode Corporation. About NeoMagic NeoMagic Corporation delivers semiconductor chips and software that provide mobile solutions that enable new multimedia features for handheld devices. These solutions offer low power consumption, small form-factor and high performance processing. The Company demonstrated one of the first solutions used for H.264 video decoding in a mobile digital TV phone, and is developing and delivering solutions for audio/video processing of the dominant mobile digital TV standards, including ISDB-T, T-DMB, E-DMB and DVB-H. For its complete system solution, NeoMagic delivers a suite of middleware and sample applications for imaging, video and audio functionality, and provides multiple operating system ports with customized drivers for the MiMagic product family. NeoMagic has a patent portfolio of over 27 patents that cover NeoMagic's proprietary array processing technology, embedded DRAM and other technology. Information on the Company may be found on the World Wide Web at http://www.neomagic.com/. About Neonode Neonode AB was founded in 2001 and is a Swedish developer of mobile devices. Neonode's mobile products are based on patented technologies enabling a unique design and user experience. These products are also based on an open and upgradeable platform minimizing the need for constantly updating the hardware. Neonode Inc. has recently announced the execution of definitive merger agreement with SBE, Inc. a publicly traded company (NASDAQ:SBEI). After shareholder approval of the merger, the combined company will be headquartered in Stockholm, Sweden. This press release contains forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, including statements regarding the growing acceptance of touch screen-only handsets, the growth in Neonode's customer base and sales, and future product development. These forward-looking statements reflect current expectations. However, actual events and results could vary significantly based on a variety of factors. In particular, since Neonode is introducing a new product to market, forecasts are inherently uncertain. Neonode's shipments will depend upon market acceptance of Neonode's products and could be affected by production delays or other problems. Additional risks that could affect the Company's future operating results are more fully described in the Company's most recent annual report, its most recent quarterly report and other filings with the United States Securities and Exchange Commission (SEC), and are available online at http://www.sec.gov/. NeoMagic may, from time to time, make additional written or oral forward-looking statements, including statements contained in filings with the SEC and reports to shareholders. NeoMagic does not undertake the obligation to update any forward-looking statements that may be made by or on behalf of the company, except as may be required by law. NeoMagic and the NeoMagic circle logo are registered trademarks, and MiMagic and NeoMobileTV are trademarks, of NeoMagic Corporation. All other trademarks are the property of their respective owners. NeoMagic disclaims any proprietary interest in the marks and names of others. http://www.newscom.com/cgi-bin/prnh/20020802/NMGCLOGO http://photoarchive.ap.org/ DATASOURCE: NeoMagic Corporation CONTACT: Nadeem Rahman, Director of Product Marketing of NeoMagic Corporation, +1-408-486-3976; or investors, Erica Mannion of Sapphire Investor Relations, +1-212-766-1800, for NeoMagic Corporation Web site: http://www.neomagic.com/

Copyright