Earnings are Way, Way up for TomTom

So, if you thought Garmin was doing well, check out TomTom. They announced earnings and they are doing just fine. The maker of many well liked GPS units, including the recently announced TomTom ONE (see article), had revenue up 373% over last year, with profit up 166% over the same quarter last year.

"The market for personal navigation devices has continued to grow strongly. Integrated devices have overtaken PDA solutions as the driver of growth in the sector and we expect this trend to continue," says TomTom's CEO, Harold Goddijn.

They are attributing this growth to a successful adoption of the TomTom GO 300 and TomTom GO 700 products, and broader distribution of the TomTom line in the US to 2500 retail outlets (see related article). This is on the way to 3700 outlets in the near future. They attributed some of this shipment growth to filling all of those stores. further, they signed an agreement with MapQuest to produce a MapQuest PND GPS based on the TomTom GO 300 (see related article).

Read More in: Automotive GPS | Earnings Announcements | GPS News | TomTom GPS News

Share this Article with others:

Related Articles:

• GPS Arkon Friction Mount Review - Jul 08, 2008
• Mio Digiwalker C720t Full Review - Jan 29, 2008
• Pioneer AVIC-F500BT - 5.8-inch Screen, Voice Command - Jan 06, 2008

Came straight to this page? Visit GPS Lodge for all the latest news.