Tomtom’s combined activities have resulted in a Q1 revenue of 169.5 million euros, the Amsterdam-based company reports. This amounts to a 14 percent year-over-year increase. The localization technology business generated 102.9 million euros, up 29 percent compared to Q1 2018. The consumer segment saw a 4 percent decline to 66.6 million euros.
“We had a good start of the year, winning the first two available HD map deals, which gives us an early position in this growth market,” comments Tomtom CEO Harold Goddijn. “Additionally, a number of driver navigation deals were announced. We will continue to invest in further improving the efficiency of our map-making platform and launch innovative products to enable driver navigation, automated driving and Maps APIs.”
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