TomTom Warns Lower Revenues, Shares Drop
"Sale of its telematics business to Bridgestone, long term decline from dashboard satellite navigation devices and increasing competition from Google (Renault-Nissan-Mitsubishi Alliance and Volvo opting for Google Maps) and HERE has put pressure on TomTom's revenues.
According to Counterpoint's Location Ecosystem report, TomTom ranks behind Google and HERE for automotive HD maps and would use the proceeds (from the sale of its telematics business) to fund its map-making system to stay ahead in the automotive sector." - Aman Madhok
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Published
Feb 12, 2019
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