TomTom’s looking to de-emphasise the GPS business — or at least the part of the business that sells personal navigation devices, according to reports.
TomTom’s one of the most identifiable brands when it comes to GPS devices, but things have been rocky for the company in recent times, according to a Reuters report. Sales of personal navigation devices has been dipping, down by 23 per cent in the third quarter of the year. TomTom isn’t looking to sell the PND division of its business; instead it will be focusing more on the in-car preinstalled market, which accounted for the largest growth in its business. The article quotes TomTom chief executive Harold Goddijn as saying that
“We have started a restructuring program which will focus our organization on the areas where we see the greatest potential for growth, of which Automotive and Content & Services are clear examples.”
[Reuters]