TomTom sees drop in sat-nav sales

TomTom TomTom said future customer demand for its personal navigation devices was uncertain

Related Stories

Navigation system firm TomTom has seen a 76% drop in fourth-quarter profit, hit by falling demand for its devices.

Net profit fell to 12m euros ($16m; £10m) from 52m euros a year earlier, as the company reported lower sales and took a previously announced charge of 13.9m euros in the quarter.

Total revenues fell 31% to 357m euros, while consumer sales fell 40%.

In December, the Dutch firm said it was cutting 10% of its workforce as part of a 50m-euro cost-cutting drive.

TomTom has struggled for months with slumping demand for its personal navigation devices (PNDs), which account for half of its total sales. It increasingly sells them built into car dashboards.

It has faced competition from free navigation software on smartphones and tablet computers.

TomTom also sells live traffic services for internet-connected devices and smartphone apps - an area where it has also had to compete with the likes of Google.

"The visibility in our core PND markets is limited, as there remains great uncertainty about the rate of decline of customer demand for the category in the year ahead," the company said in a statement.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features

  • PlanesTest of nerve

    WW1 fighter pilots who navigated using a school atlas


  • Pauline Borghese What the butler saw

    Scandalous tales from the British embassy in Paris


  • A baby holds an adult's fingerSmall Data

    The time when the average age of death was zero


  • League of LegendsBattle for glory

    On the ground at League of Legends World Championship's final


  • Vinyl record pressing in AustraliaVinyl vibe

    Getting into the groove with Australia's last record maker


BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.