TomTom Warns of Lower Earnings
TomTom announced that they are going to come up short on their earnings for the last quarter of 2008, warning that sales were off from expectations, indicating that they are up to a million units short across Europe and North America. If things aren't bad enough, they need to re-assess their TeleAtlas acquisition valuation and potentially write the value of that down too.
All of this unfortunate news comes on the heels of them announcing their TomTom GO 740 LIVE unit at the CES 2009 show, whih hopefully can re-excite the market in the spring when it is launched.
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Posted by Scott Martin at January 20, 2009 7:16 AM