TomTom to offer maps data to Apple image

TomTom NV, Europe’s largest maker of portable navigation devices said Tuesday it will provide maps for Apple Inc.’s newly announced mapping service.

“TomTom has signed a global agreement with Apple for maps and related information,” the satnav firm said in a canned statement, though naturally it’s not interested in giving any further details at all.

“The deal is a boost for TomTom because of the huge installed base of Apple product users and because of the brand and all that it stands for itself: innovation, ease of use and quality,” Martijn den Drijver, an Amsterdam-based analyst at SNS Securities, wrote in a note to investors.

Apple announced Monday at its World Wide Developers Conference that an upcoming version of its iOS operating system features a maps app with Apple-designed cartography, turn-by-turn navigation, and interactive 3-D views, placing the company in competition with Google’s Maps product.

Apple had said that its new mapping application provides real-time traffic information and suggests alternative timesaving routes. It’s connected to local-search information, including Yelp ratings, reviews and deals.

Europe’s largest manufacturer of navigation devices saw its share price jump by at least 10 percent yesterday following the announcement — after watching profit margins slump in the first quarter of 2012.
TomTom has performed poorly in comparison to larger competitor Garmin Ltd, and in April reported a €1.5 million first quarter loss, with sales down 12 percent to €233 million.

Inautonews has contacted Apple for more information and will update this report when we learn more.

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  • nickp91

    TomTom Is one of the best GPS money can buy so that means the GPS on the iphone is going to be real good.

  • http://www.inautonews.com inautonews

    true !