TomTom: North American PND Units Slip 19% Industrywide In Q2

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

Amsterdam, The Netherlands – North American retail-level sales of portable navigation devices (PNDs) fell 19 percent in the second quarter to 700,000, but TomTom’s share grew to 17 percent from the year-ago 15 percent, the company said in announcing its second-quarter financial results.

In contrast, Europe’s PND sales fell only 7 percent to 1.7 million, the company said.

North America’s second-quarter drop followed a first-quarter drop of 17 percent to 700,000 units and a fourth-quarter drop of 28 percent to 1.3 million units.  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.

PNDs account for the largest share of TomTom’s consumer products business, which has broadened to include sports-related wearables, PNDs designed specifically for truckers, navigation apps, an action camera, and TomTom MyDrive. MyDrive is a web portal and app that lets users review real-time traffic information, plan routes, and send destinations to a TomTom PND before getting into the car.

TomTom’s consumer revenue fell 2 percent in the quarter and half to 164.9 million euros ($180.5 million) and 293.6 million euros ($321.4 million), respectively. The company’s consolidated revenues rose 5 percent to 264.6 million in the quarter and by 3 percent in the half to 469.9 million euros. Those revenues come from the company’s consumer, OEM automotive, licensing, and telematics businesses.

Net income fell 71 percent in the quarter to 2.5 million euros ($2.5 million), but the first-half net loss came to 4.4 million euros compared to net income of 16.4 million euros.


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