TomTom Results Top Estimates, Wins Two High-Definition Map Deals

www.oann.com | 7/28/2017 | Staff
applekip (Posted by) Level 3
(Reuters) – Dutch navigation and digital maps firm TomTom on Wednesday reported a forecast-beating 14 percent rise in first-quarter revenue and said it had won two contracts to supply high-definition maps to carmakers.

“We had a good start of the year, winning the first two available HD map deals, which gives us an early position in this growth market,” said CEO Harold Goddijn in a statement.

TomTom - January - Management - Business - Japan

TomTom in January agreed to sell its fleet management business to Japan’s Bridgestone for 910 million euros, in order to concentrate on its digital map-linked businesses, which it has said it expects to grow by around 15 percent to 430 million euros in 2019.

TomTom’s prospects took a huge knock last year with the entry of Google’s far-reaching supply deal with a group of carmakers including Renault, Nissan and Mitsubishi .

Company - Decline - Sales - Satnav - Devices

The Amsterdam-based company also faces a long-term decline in the sales of dashboard-mounted satnav devices.

TomTom said the HD contracts were with two of the world’s largest car companies but...
(Excerpt) Read more at: www.oann.com
Wake Up To Breaking News!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!