Black Friday Softer Results - High Shares for Big 3
In a quick Q&A, GPS Business News had Tom Murray, VP Marketing USA for TomTom, review the GPS performance on Black Friday where he indicated that TomTom's results were a little softer than hoped for, with shares in the mid-30% range. They must have had high expectations as the TomTom ONE 125 was everywhere that I looked, and at $99, there was a lot of buzz.
They also talked about the fact that the Big Three, no not the auto makers, TomTom, Garmin and Magellan, made up 95% of the Black Friday sales. Not surprising considering the brand recognition and the deals that were in every major store.
A couple of years ago, Mio made a splash with a low priced, high value unit, and woke the big guys up with it. I think that the Big Three realized the opportunity and have since made a more concerted effort to grab the entry level consumer.
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Posted by Scott Martin at December 12, 2008 6:33 AM
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