TomTom: North American PND Market Fell 26% In ‘13

By Joseph Palenchar On Feb 11 2014 - 4:26pm

Amsterdam, The Netherlands — Retail-level unit sales of PNDs in North America fell 27 percent in the fourth quarter compared with the year-ago period and dropped 26 percent for the full year, GPS supplier TomTom said in its latest financial report.

Sell-through fell to 1.8 million units in the quarter and to 5.4 million units for the entire the entire year.

TomTom estimated its fourth-quarter share at about 15 percent, down 4 percentage points from the year-ago period

The company’s consumer revenues, consisting of PNDs and new product such as GPS sports watches, fell 12 percent in the quarter to 165 million euros ($225 million) and fell 11 percent for the year to 567 million euros ($773.3 million).

Consumer products accounted for 59 percent of the company’s full-year revenues.

Overall sales – including automotive, licensing and business solutions – fell 7 percent in the quarter and by 9 percent for the full year to 963 million euros ($1.31 billion).

Net profits fell in the quarter to 3 million euros and fell 84 percent for the year to 20 million euros.

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