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	News: TomTom Reports Higher Second Quarter Profit TomTom has posted a rise in its second-quarter net profit. Its profit for the last quarter rose 69% to EUR34 million from EUR20 million a year earlier. The rise was attributed to cost cutting and lower financing costs. However, they did experience a 2% drop in group sales from EUR368 million a year ago to EUR362 million due to falling prices for its personal navigation devices (PNDs). TomTom has also increased its market share in Europe from 44% to 49% and the US from 19% to 23%. However, this increase is within a PND market that is shrinking overall. The fierce competition from free satnav on smartphones will inevitably dilute this part of TomTom's market even further. Click here to read more... Click here to discuss... Posted on Friday, July 23 @ 12:04:37 UTC by Rob Brady


	Related Links · More about · News by Rob Brady Most read story about : TomTom Announce Navigator for Smartphone, Symbian and Sony P900


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