TomTom Earnings are Up - 1+ Million Units Sold in Quarter
TomTom has released their earning for last quarter, and they look pretty good. Recall that they introduced the TomTom ONE in the US and then re-launched the slimmer model back in the European market. They have also been trying to dig themselves out of a component shortage on the TomTom 510, 710 and 910 models that hit the market earlier this year. They recently claimed that the shortage is over and are well poised to sell a lot of TomTom GO's in the holiday season. TomTom sold over a million units in the past quarter, and said that their sales were up 41% vs. year ago, and profit was up 24% vs year ago. The average selling prices were down, reflecting the stiff competition that is taking place in the GPS market, but they managed to drop their costs faster than their prices and their margins went up. If you are wondering where to buy a TomTom, it appears that it will be easier this year than last year, as the TomTom GO GPS units will be available in 16,000 outlets, vs only 5,000 outlets last year.
For what I think TomTom needs to do, check out: Editorial: 8 Things I would do if I were TomTom
Read More in: Earnings Announcements | TomTom GPS News
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Posted by Scott Martin at October 26, 2006 7:49 AM
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