Last year, the Dutch company TomTom decided to quit the wearable market after disappointing sales coupled with several executives resigning from the company. After which, the company, in a press statement, announced that it will focus solely on its ‘navigation technologies’ sector. It’s worth mentioning here that, they were once the posterchild of Euronext with a highpoint of €60 per share at the end of 2007, however, at present, they are relatively steady between €7 to €9 per share.
1.5 billion changes in one month!
In this regard, TomTom, known for manufacturing a range of Linux-based satellite navigation hardware has recently announced that, in a month, it has made 1.5 billion changes to its digital maps, which are delivered to TomTom customers on a weekly basis.