TomTom Wins Deal to Provide Volvo Cars With Maps, Data

Share on Facebook Tweet Share Reddit Comment
TomTom Wins Deal to Provide Volvo Cars With Maps, Data
TomTom , the Dutch navigation company, said on Wednesday it had won a contract to provide Volvo Cars with real-time maps and traffic data for its vehicles.

Terms were not disclosed, but the contract is a major win for TomTom, which competes with Google Maps and Here, the former Nokia unit now owned by Audi, BMW and Daimler.

TomTom, once known mostly for dashboard-mounted GPS systems, has won a string of contracts for its mapping technology, which it believes will play an important role as car driving becomes increasingly automated.

Other TomTom customers include Volkswagen, Uber and Apple.

TomTom's shares are down more than 30 percent so far this year, declining sharply during the January market sell-off and again in February after issuing a forecast for 5 percent sales growth in 2016 that fell short of market expectations.

© Thomson Reuters 2016

Comments

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and subscribe to our YouTube channel.

Moto Z and Lenovo Project Tango Phones Leaked in Images; Moto E Spotted
This iPhone Case Lets You Run Android on Top of iOS
 
 

Advertisement

 

Advertisement

© Copyright Red Pixels Ventures Limited 2019. All rights reserved.