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TomTom’s annual sales slump.

by gps4us news 2012-02-20 18:42

 

 

TomTom, a Dutch maker of digital maps and PNDs (Personal Navigation Devices) reported a staggering 76 percent in fourth quarter net profit due to declining demand for PNDs. The company also predicted further decline this year.

Total sales for TomTom group fell 31 percent, with PND dicvision sales down by 40 percent.

The PND unit that makes consumer navigation devices is trying to find a way to increase sales and profit, but that task will likely fall on other divisions of TomTom, like built-in navigation units currently used by Mazda, Renault and Fiat; digital maps, fleet management services, and real-time traffic services for internet-enabled devices.

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