TomTom mulling to sell Telematics unit fearing Google
Dutch navigation company TomTom has said on Thursday that the company is considering selling its telematics division and they are studying the feasibility of its sale. The telematics division is a secondary but profitable business unit in fleet management, Reuters reported.
The division generated $51.4 million in sales during the second quarter.
TomTom’s move came after a week when Google announced a deal with TomTom’s customer Renault to supply software including Google Maps.
TomTom might be selling the telematics business unit to focus on its core strength as a supplier of mapping and navigation technology to automakers.
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No one likes their customers being nicked away from them; TomTom has to rebuild their strategy which offers enough to customers so they cannot afford to change their suppliers.
However, TomTom has staked their future largely on the success or failure of their business as a supplier of mapping and navigation to automakers. What TomTom has planned for its future is unclear yet.
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