Neonode AB, maker of the N2, files for bankruptcy

Written on 10:24 PM by ChaoticMedia

Neonode AB, a wholly-owned subsidiary of US-based Neonode, Inc., has filed a petition for bankruptcy in Sweden. The company, which has focused almost all of its efforts on pushing the now aged Neonode N2 since 2004, finally caved after looking so vulnerable in late July. According to Per Bystedt, CEO and Chairman of Neonode: "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." No word of a revamped OS. No word of hardware tweaks. Nothing that sounds to us like they really want to survive in today's high-stakes handset market. At any rate, the parent company is hoping to trudge on as a technology licensing company, with or without Mr. N2.

http://www.engadget.com/2008/12/10/neonode-ab-maker-of-the-n2-files-for-bankruptcy/

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