TomTom: North American PND Units Slip 17% In Q1

Europe holds up better than North America
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Europe holds up better than North America

Amsterdam, Netherlands – North American retail-level sales of portable navigation devices (PNDs) fell 17 percent in the first quarter to 700,000 units following a fourth-quarter decline of 28 percent to 1.3 million units, TomTom said in reporting its first-quarter financial results.

In calendar 2014, North American PND unit sales fell 23 percent to 4 million units, slightly less than 2013’s 26 percent drop, TomTom previously said.

First-quarter unit sales fell faster in North America than it did in Europe, where unit sales fell only 8 percent to 1.4 million units.

In the first quarter, TomTom said its share of the North American PND market slipped to 16 percent from 19 percent.

Overall TomTom revenues were flat in the quarter at 205.3 million euros, with consumer revenue including PNDs and wearables down 3 percent, automotive OEM revenues down 19 percent, licensing up 12 percent, and telematics revenues up 24 percent.

For the quarter, the company posted a net loss of 6.9 million euros compared to a year-ago net income of 7.6 million euros. Calendar 2014 net income was 22.7 million euros, up 12.9 percent.


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