TeleAtlas Revenue Up, Earnings off
TeleAtlas release their earnings and things are looking all right for the popular map data provider. Their revenue was up 29% but their net loss expanded as they continue to invest into other markets, specifically China. Tele Atlas provides digital maps and location-based content to leading personal navigation providers such as TomTom, Mio, Navman and ViaMichelin. Tele Atlas was also selected by Nokia to provide the digital map data for the Nokia N95, the company’s first GPS-enabled multimedia device. They weren’t selected as the provider of maps for the Nokia stand-alone GPS, the Nokia 330, which must have them concerned that Nokia may jump ship on them. Just goes to show you that it’s a competitive market.
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Posted by Scott Martin at November 1, 2006 6:42 AM
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