NAV-TV CORP. announced Wednesday evening that it will exit its car audio aftermarket business, which includes all aftermarket infotainment and vision products.
Its OEM and Test equipment divisions are not affected.
“Following a strategic review, the company determined that the Aftermarket Automotive products business was no longer positioned to sustainably meet our customers best needs. The exit from this line of business will be phased over the next 12 months,” said a NAV-TV press release.
NAV-TV will maintain all warranties to 12 months from date of purchase or until 9/15/2024, whichever comes first.
“This decision enables NAV-TV to focus resources on our greatest opportunities for growth and where we can deliver industry leading value to customers,” said NAV-TV CEO Moni Melman. “It is in line with the company’s strategy to focus our resources primarily on OEM, Test Equipment, and specialty programs…”
During the phase-out period, NAV-TV will discount existing products and offer package deals to aftermarket customers. Engineering, manufacturing, and other equipment will also become available over the next 12 months as will competitively priced licensing structures for NAV-TV’s Intellectual Property.
NAV-TV Corp. is a privately held company headquartered in Coral Springs, FL. It has been serving the Aftermarket Automotive for over two decades and has been an industry leader with innovative products.