Neonode Inc. announced its anticipated proceeds from a settlement of a patent lawsuit between Aequitas Sub, a subsidiary of an unrelated third party, and Samsung Electronics Co. Ltd. The lawsuit pertained to alleged infringement of certain patents assigned by Neonode to Aequitas Technologies LLC in 2019. Neonode was not a direct party to the lawsuit.
Pursuant to the terms of the Assignment Agreement from May 6, 2019, Neonode is entitled to 50 percent of any net proceeds from the settlement. Based on shared settlement details, Neonode expects to receive approximately US$15 million to US$20 million. This amount is after deducting a brokerage fee payable by Neonode and estimated legal fees, taxes, and other expenses.
The lawsuit, filed in June 2020, was dismissed on September 2, 2025, following the settlement between Aequitas Sub and Samsung. Neonode's Board of Directors has not yet made a decision on the expected use of these proceeds. A separate patent infringement litigation brought by Aequitas Sub against Apple Inc. remains pending.
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