PNDs Fall Faster than Planned: TomTom

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Total U.S. portable navigation device (PND) sales for Q1 fell to 2.1 million units, compared to 2.6 million units a year earlier, said TomTom.

CEO Harold Goddijn noted that PND sales in North America, “showed a more negative trend towards the end of the quarter.”

But TomTom continues to evolve from a PND maker into an automotive supplier and provider of other location based services. For Q1, its automotive revenues grew by 53 percent to 60 million euros and its content and services revenues climbed 36 percent.

As a result its net profit soared to 11 million euros in calendar Q1, compared to 3 million a year ago as the new business areas offset losses in PNDs.

US PND Sales Fall: TomTomTomTom’s consumer business unit, which includes PNDs, fell by 30 million euros to 157 million euros, compared to the year ago quarter.

In PNDs, TomTom said it increased its U.S. market share to 24 percent during the quarter, up from 22 percent a year ago.

Source: TomTom

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