TomTom no longer prejudge navigation tables

TomTom no longer prejudge navigation tables

Tech October 21, 2016 07:06

amsterdam - TomTom has seen decline in turnover and profit in the third quarter. The navigation specialist gave to all to recently with a stronger decline in demand for the navigation tables that have made the business. The introduction of new products which have not leveled setback yet.

The company from Amsterdam achieved a turnover of 239 million euros compared to 254 million a year ago period.

Gross profit before depreciation (EBITDA) remained stable at 33 million euros, but net profit fell by two-thirds to 600. 000.

Despite the problems with the sale of navigation tables, which greatly suffers from competition from navigation on smartphones, TomTom still boast successes in the automotive industry.

That division produced 21 percent more, including new contracts with Volvo Trucks and Subaru to supply navigation software.

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