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News: TomTom - 50m Euro Cost Cutting Drive

TomTom have announced a program which will seek to cut 50m euros in costs through 2012 in an effort to counteract falling sales of its PNDs.

Although PND sales have been on the decline, TomTom has been working hard to grow its business in the Automotive market and this re-focus has slowed the fall in sales. Net profit has seen a small rise in the last three months of trading.

TomTom has also seen some success in its services division with licensing of map data and services such as Live Traffic also contributing to higher sales and increased subscriber numbers.

There are no plans to sell the PND business but the cost cutting will see a number of job cuts.

TomTom shares saw a boost up 19% following the announcement,

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Posted on Tuesday, October 25 @ 09:56:09 UTC by Darren Griffin


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


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