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Neonode today said that its core phone making division has filed for bankruptcy in its home country of Sweden.Neonode AB has, together with its American parent company, Neonode Inc., taken a number of measures to attempt to restructure and refinance Neonode AB’s operations. On 22nd October 2008 Neonode AB filed for reconstruction in accordance with the Swedish reorganization act (1996:764).
“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,” Per Bystedt, CEO and President of Neonode, Inc. continues.

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