N2’s reception issues cost Neonode $3 million

Neonode N2When you have a device as small as the Neonode N2, something’s gotta give, and I guess you can’t fix everything with a firmware update.

In a recent letter to shareholders, the company’s CEO and chairman Per Bystedt said they’ve failed at meeting sales expectations. The problem was that Neonode tried to reach “too many markets, too fast,” but also the N2’s “reception issues.” Ultimately, the company has lost $3 million, but asks for investors’ patience…

Shareholder’s meeting is set for August 5th at 09:00 a.m. CET/12:00 a.m. PDT/03:00 a.m. EDT. Hopefully, it won’t be all about the bad news. We’re eagerly waiting for some hot phones from Neonode. Don’t disappoint us, please…

[Via: Engadget Mobile]

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