The death of dedicated satnav cometh as TomTom posts poor Q3 sales?
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TomTom has recently posted some rather unhealthy Q3 sales as the company sees further drop in demand for dedicated GPS units.
The Dutch company, who has been at the forefront of the satnav industry for many years aims to cut 50 million euros in costs, which will hopefully help it turn a decent profit in the coming months. The savings will also mean job cuts ofr many of its staff.
Despite a 50 per cent rise in its Q3 profit, due in large degree to depreciation of the euro against the dollar, it seems TomTom struggled - with sales falling 10 per cent in the same period to 336 million euros. »read more
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