TomTom in profits warning due to falling builtin nav sales
Article by: Darren Griffin Date: 1 Nov 2012
TomTom this week issued a profits warning blaming lower than expected sales of cars with its built-in satnav systems.
TomTom has been working hard to secure a strong position in the automotive market in an effort to offset declining sales of portable satnavs. But the European debt crisis has seen car sales falling fast and this has affected their forecast for sales in that market.
TomTom now expect turnover to fall from a forecast Euro 1.10bn (£850m) to Euro 1.05bn. TomTom recently secured a partnership with Apple for the supply of map data to iOS6. However the bungled implementation by Apple has attracted a lot of criticism and TomTom may be regretting the deal.
TomTom shares, which reached a high point of Euro56 in 2007 are now trading at Euro3.9.
I think I read somewhere that TT is ripe for a takeover bid? I'll put a bet on the Chinese.
Mike R [aka Wyvern46]
Go 550 Live
One XLT WE
Posted by Drumhum on Sat Nov 03, 2012 1:26 am
The tomtom in my 2011 Renault Laguna considers all speed camera limits to be km/h. Consequently if you drive 30mph in a 30mph zone you get warnings that you are way over the limit (by whatever 30mph is over 30km/h).
It's dangerouse to get inaccurate speed warnings yet they do nothing. No comment no fix.
I'd love it for this website to take up the issue.
Could it be that with such rubbish service like this, that tomtom are out of favour?
Posted by cjay2412 on Sat Nov 03, 2012 2:49 am
sony xnv units are advertised as having tom tom places when it doesn't its still awaiting a software update. also advertised as having map-share again it doesn't 2 years now they advertise it as having map-share. the real kick in the teeth is my device keeps asking me to download daily corrections from mytomtom. tomtom believe there future market is built in units but fail to give the after market support.people wont stand for a product that wont perform as described especially when folked out 3x or more the cost of a pnd