TomTom denies talk of consumer division sale

Darren

Reports that TomTom is looking to sell its consumer navigation business have been denied by the Dutch navigation company.

The rumours surfaced following an interview with TomTom Chief Exec Harold Goddijn by NRC Handelsbad. In the interview he declined to rule out the possibility of a sale of the consumer division.

TomTom have said that the comment was taken out of context and that there were no plans to sell their PND division. Although it is still profitable, the market is shrinking at between 10 and 15% each year. TomTom have been working hard to build their automotive business sales business.

Shares initially rose on the rumour with buyers hoping that a sale may be on the cards with analysts believing TomTom shares would be a better prospect without the PND business. TomTom have also faced pressure to sell off their mapping division.
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Darren Griffin

unwanted · Occasional Visitor Joined: Jan 31, 2006 Posts: 34

if they do sell the TomTom Consumer section hopefully it will go to a company with a better Customer Service and with owners with less of an attitude problem... (from my experience of problems with them, but others have no doubt had a brilliant service)

Darren · Posted: Fri Jul 05, 2013 9:22 am Post subject:

The days of PND type navigation devices are numbered, in a few years time they won't exist as the market moves to multi-function smartphone and tablets.

Indeed I can't see in-dash navigation lasting long either. Much better if you can dock your smartphone and use your choice of navigation software coupled with a big in-dash screen.

So it's not hard to see how a sale my be possible. What's harder to understand is why anyone would want it at a price that would make sense to either party.

And TomTom's one valuable asset, the mapping division, faces threats too with the rise of other mapping options such as Google. If they were to sell that they'd have very little of value left.

Tough times ahead for sure.
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Darren Griffin

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