TomTom Q1 ’09 results

Revenues in Q1 ’09 went down by 31% year-on-year. TomTom gave ‘destocking of the channel by distributors and retailers’ as one of the main reasons for the revenue dip (apart from the obvious recession).

During the investor conference, Harold Goddijn (TomTom CEO) mentioned the renewal rate of LIVE subscription to be over 30% and that TomTom expects this figure to continue with an upward trend. He also mentioned that the company is working on bringing LIVE to mid-range PNDs and to the automotive sector.

See TomTom presentation here.

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