TomTom gives turnover warning

TomTom gives turnover warning

Tech October 13, 2016 07:06

- TomTom has suffered from declining demand for its navigation tables. The company issued on Thursday a revenue warning.

TomTom's profit outlook remains intact, said the group in a press release.

Ahead of its third quarter results presented on October 21, TomTom reported that annual sales will decrease to € 980 million, coming from an earlier forecast of € 1.050 billion.

Sales of navigation tables TomTom encountered a weak market. The group had been much earlier stated that development would continue.

Thursday reported that its European sales with a stronger decrease than previously estimated. would decrease the hardware in Europe are 20% for the whole year for the whole year.

The North American market remains well within expectations for year-TomTom provides sales decreased by 23% to.\n  \n  \n   advertisement

His Automotive-, Licensing and Telematics parts develop it in line with previously announced expectations, says TomTom.

The profit forecast of € 0.23 per share remains intact.

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