TomTom Steers Itself Toward New Revenue Sources
TomTom's software and devices include roughly $90 for a Windows-based TomTom navigation system and up to $470 for a TomTom car kit. The company has also been slashing prices on its iPhone app.
TomTom's revenues rose 3% in the quarter to $519.4 million, compared with last year. While the company didn't offer up an expansive explanation in their earnings statement of what precise measures it will take to broaden its revenue base, it has begun offering a personalization service to spiff up the appearance of its devices -- similar to the personalized protective casings users can get for their cell phones.
In the meantime, it declined to comment on whether it is still holding talks with prospective buyers, according to a Reuters report. Earlier in the month, Goddijin said in a published report that the company has declined a few buyout offers. According to Reuters, analysts believe Microsoft (MSFT), Google or Samsung would be the most likely candidates to make an offer.