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TomTom Guides Lower Again as Consumers Flee

offthegrid 91 Points
edited November -1 in TomTom Car Forum
http://finance.yahoo.com/news/TomTom-guides-lower-again-as-rb-1152962863.html?x=0&.v=1


As more consumers use free or cheap navigation software on their smartphones and turn increasingly to newer gadgets including tablet computers, TomTom has seen its sales hit. It had already lowered its full-year revenue guidance in April.

In a statement after the market close on Monday, the company revised its guidance again, cutting its full-year revenue expectations to between 1.23 billion euros and 1.28 billion from its previous forecast range of 1.43 billion to 1.48 billion

Comments

  • mvl 191 Points
    Do you really think that "smartphones" are really the reason for lower sales?

    Or is it that the latest Tomtoms have so many missing "coming soon" features that people are holding off on buying them...
  • gatorguy 326 Points
    I don't think the majority of TT buyers realize anything's missing, at least not prior to purchase.

    I think it's smartphones too, as well as a stalling-again economy.
  • dhn 336 Points
    Well, if you go to the Discussions forum set up by TomTom (dumb move), you see plenty of "former" TomTom users in Europe AND North America who have returned their newer model and gotten a Garmin or other model.

    Garmin couldn't have gotten better advertising if it tried than TomTom's Discussion forums.
  • offthegrid 91 Points
    TomTom stock is down 27% this morning.
  • navxguy 0 Points
    Any info on unit demand? ... i can see the lower revenue guidance just based on pricing pressure, discounts, promotions (lifetime maps, free traffic, etc - not driving incremental revenue) ... but it would be interesting to understand unit demand trends ... if that's significantly off year over year, look out below!! ... and time to change the game :shock:
  • offthegrid 91 Points
    The stock continues to get hammered, down nearly 6% this am. Market Cap at under $680 million.

    They are announcing another round of layoffs soon to bring up margins. How's that going to affect things?
  • offthegrid 91 Points
    The stock has recovered somewhat before trading ended.

    Where is the white knight that will allow TT the flexibility to do what it does best - innovate?

    I thought it was between Apple and RIM but RIM has signed a deal where Bing Maps (Navteq) will be built into the next OS thet roll out this Fall and Apple is doing its own thing.

    Samsung may be that white knight offering free navigation from TT, we'll see.
  • Sumrall 0 Points
    SmartPhones, unable to easily replace battery, dumbing-down of GPS units. Lot's of reasons to give TT wide berth...as well as Garmin.

    GO 930 user even though battery is kaput. Still works when plugged into power.

    Never buy another TT nor Garmin. Still use my 5 to 7 year old Garmin 2610 (the best they made) even though there are no map upgrades for my 2610 - still the best.
  • sbukosky 91 Points
    So I have my GO930 tell me that my traffic subscription is about to expire. I go to HOME and renew it and print out the receipt. Put my GPS in my car. No traffic. Says it's expired. So thinking that the first transaction didn't go through, I do it again and print the receipt. I get an email saying how to reactivate traffic. Doesn't work.

    I call support. After a lot of head scratching, they say it should work tomorrow. It doesn't work tomorrow so I call again. More head scratching and they say the problem is on their end and technicians are working on it and it should be working by this morning. Nope, not working.

    Third call to support. They have me remove files to make space, saying that I don't have enough space free. I'll shorten the story. After two hours of screwing around on the phone and putting the GPS in the car to check what it does with the cable, it still doesn't work.

    Finally he says that he found out that the traffic is obsolete and no longer being supported. He's turning the case over to financial to refund my money and I should get it in 30 days.

    Is TomTom really this unorganized and incompetant?
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