TomTom: North American Q1 PND Unit Sales Off 33%

Publish date:
Updated on

Amsterdam, The Netherlands - North American retail-level sales of portable navigation devices (PNDs) fell 33 percent in the first quarter to 1.4 million units, and TomTom maintained its 24 percent share of the shrinking market, the company said in its latest financial report.

European PND sales fell 16.7 percent to 2 million units, with TomTom maintaining its 46 percent share there.

"Visibility about the rate of decline in our core PND markets remains limited," the company noted.

The company also said it began selling PNDs through Chevrolet dealers during the quarter and that it released a software fix for select products that stopped functioning properly after March 31 because of a software bug in a third-party component.

For the quarter, sales of the company's PNDs fell 20 percent to 126 million euro, and overall company sales fell 12 percent to 233 million euro, including business solutions, licensing and sales to automakers.

The company posted a net loss of 2 million euro compared with a year-ago net profit of 11 million euro.


Related Articles