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Tomtom Reports Mixed Third Quarter 2010 Results
Article by: robert
Date: 21 Oct 2010
 Against a background of a dire economic climate and pressure from the ever growing exodus to free and low cost navigation apps on mobile phones, TomTom has posted its 3rd Quarter results.
Operating profit for Q3 was €55 million, but, compared to a year earlier, net profit dropped to €19.3 million from €30.5 million. Overall, they regard their results to be on track and still expect to report broadly flat revenue and earnings in 2010.
TomTom's personal navigation device (PND) market share in Europe grew from 45% to 48% compared to the same period last year. They have also reported a third quarter growth in group revenue of 3% to €375 million from €365 million year on year. They also managed to redeem €125 million of debt ahead of schedule.
Their automotive solutions revenue, where they work directly with the auto industry, grew by 48% and their Business Solutions revenue grew by 37%.
TomTom's operational highlights for the quarter include:
* GO LIVE 1000 shipped; new PND range VIA LIVE announced
* New Renault, Mazda and Sony in-dash contracts announced
* One million connected users milestone passed
* Traffic Manifesto launched; commitment to reducing congestion on roads
TomTom's Chief Executive Officer, Harold Goddijn said, "Our Consumer business unit performed well in a soft market through strengthened market share, slowing price declines and an increased contribution from service and subscription sales."
He added, "We made good progress in securing new automotive contracts and our Business Solutions unit continues to deliver strong increases in subscriber numbers. We are focused on broadening our revenue base and on rolling out high quality content and services to our customers and I am pleased with the progress we are making."
| Comments
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 Posted by williamsf1 on Thu Oct 21, 2010 1:42 pm |
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i own a TomTom One, great, but screen is very dated and feels 'squashy'.
i now have Google maps Nav on my HTC Wildfire, but cannot put POI on yet.
TomToms days are numbered. why carry two devices in your car...
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| Posted by Darren on Thu Oct 21, 2010 5:22 pm |
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| williamsf1 Wrote: | | TomToms days are numbered. why carry two devices in your car... |
Phone nav is handy as a backup but give me a proper satnav any day.
Darren Griffin |
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| Posted by williamsf1 on Thu Oct 21, 2010 10:03 pm |
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Screen is not as accurate as iphone or htc, feels soft when pressing.
Phone nav is already on phone, so one less thing to remove at destination.
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| Posted by john999boy on Fri Oct 22, 2010 12:05 am |
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Don't forget that you need a phone connection when starting (and sometimes during) Google Nav - not always feasible.
A dedicated sat nav is best but a phone based one in a good signal area is a good backup.
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| Posted by PedroStephano on Fri Oct 22, 2010 9:56 am |
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I have and hope to keep forever my TomTom PND. I haven't yet gone for TT on my iPhone simply becasue I can't justify the expense, but i have Skobbler and NavFree; but because it's on a phone, the nav screen goes to background when you receive a call or text. Give me a PND that just does nav any day. I regularly lose phone signal on the iPhone (curses at O2) and feel the reliability of the PND justifies its place on my dash.
*BUT* TomTom are losing £30 a year revenue off me, because their last update to my Go 300 destroyed the ability of syncing internet to the device, thus disabling traffic updates. Hence I'm not a TT traffic customer anymore. Shot themselves in the foot methinks by ceasing support of older PND's for this lucrative add-on.
iOS rokcs (but my typing - well....)
@PedroStephano |
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| Posted by xtraseller on Fri Oct 22, 2010 6:46 pm |
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Well just added their new 1000 to my range on this news... well every little helps!
I have TomTom and Navigon on my iPhone and while they are both pretty impressive in their own right, and if I used my sat nav a few times a month or less, would probably stick with it, screen size, issues when taking a call or text, and fiddlieness (is that a word?) means its not for me
Give me a PND anyday. For now anyway
TomTom Go Live 6100, 600
Garmin DriveLux 50, D-Smart 70, NuviCam, 3598, 2699, 2798
Mio Navman 695
Nexus 6p, Apple iPhone 6sPlus and Microsoft Lumia 950xl running TomTom, Garmin, CoPilot, Navigon, Sygic, Here Drive, Google, Waze, MS Maps |
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| Posted by SpeedCam on Fri Oct 22, 2010 8:05 pm |
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Probably explains the push to release the half fininshed Live 1000:
TomTom's operational highlights for the quarter include:
* GO LIVE 1000 shipped; new PND range VIA LIVE announced
Speedcam
Model : HTC HD2, HTC Magic, iPhone 3g, GO 740, XL GO Live |
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