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Neonode (NEON) Stock Surges 20% After Deal Featuring Contactless Airport Technology

Updated: 29 Sep 2021

Neonode Inc (NASDAQ: NEON) stock price soared 20% earlier today following a successful new deal with Doostek, a Korean contactless solution provider, involving the rollout of Neonode touch technology for contactless self-check-in trials in a main Korean airport. 

The Swedish company is a valued player in pushing the boundaries of new-age touch and sensory technology. Specialising in optical sensing solutions for touch, gesture control and remote sensing, the technology designed by the Neonode group can be found in more than 80 million global products. Share prices for Neonode don’t seem to reflect the widespread utility of their products, and price has been in steady decline since around 2015. Until August this year, when the bulls returned. 

Neonode started working with Doostek in 2020. The Korean company evaluated the potential of its touch sensor modules involving a lengthy testing period, which was successful. Following this, Neonode’s state-of-the-art sensory technology was implemented in a new contactless kiosk solution by the name of Touch Catch – where the trial at a major Korean airport is underway and running smoothly. 

Urban Forssell, CEO of Neonode had this to say: “The interactive kiosk segment is important to Neonode's contactless business and I am delighted having a new customer in Doostek with a capable solution that is now making its way into the Korean airport kiosks”

Daniel Kim, CEO of Doostek is similarly pleased: ” Thanks to Neonode's contactless touch technology, we will contribute to a virus free travel and I am looking forward to expanding Doostek through product adoption at many Korean airports.”

This is an exciting time for Neonode investors as the stock is currently trading around $11.19. The virus spurred innovation and creativity in technology that would allow us to continue to grow and prosper. The arguments for contactless technology are starting to underpin industry practices across the board – companies that specialise in such developments may be worth watching out for in the near future.

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