AMSTERDAM (Reuters) – Digital mapping company TomTom will probably lose some business in future as a result of Google’s deal with carmakers Renault, Nissan and Mitsubishi, TomTom’s finance chief said on Wednesday.
Carmakers opting for Google Maps would have an impact on TomTom’s order flow, CFO Taco Titulaer told Dutch news agency ANP, although that would not directly hit revenues immediately, as it takes time for orders to translate into sales.
“Our order inflow from automotive was worth around 400 million euros ($468 million) last year. Our revenues from automotive are around half that number this year,” Titulaer said in an interview with ANP.
