Just read this in the paper:
Falling demand pushes TomTom into huge loss.
Two telling remarks were:
"TomTom has struggled after acquiring digital mapmaker Tele Atlas for €2.9 billion in 2008, beating larger competitor Garmin in a bidding war but taking on so much debt that it had to issue shares to stave off bankruptcy when the market went into a slowdown.
In addition, margins have shrunk as cheaper Asian competitors have entered the market, while smart phones have proved another formidable competitor."
Bugger, thats not good, although I like Garmin, TomTom is another quality product. Hope they can fix their problems.
I have no use for TomTom atm. but what i do like, is competition. It keeps company's like Garmin on their Toe's, so to speak. This is not good news, wouldn't want Garmin to be the only game in Town.
but have you seen the list of GPS's made now? I haven't heard of 90% of them!
Five years ago when I went looking for a GPS, I checked out "Consumer Reports." In so many words, and reading between the lines, they wrote that Garmin was the best at that time, so I bought Garmin, and so happy I did. I have been more than satisfied with them, and will continue to stay with Garmin
Now we know why Garmin did not buy TeleAtlas! If they are at all interested in it now, they just might be able to pick it up for a song...that's the way you stay in business, sweet victory!
Their customer service doesn't help... I tried to buy a map from them and they said no and hung up on me. Oh well, their loss.
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