Satellite navigation company TomTom realised a 553-million-euro profit in the fourth quarter of last year.
Profits for the whole year amounted to 1.5 billion euros, 15 percent less than in 2008. The reported figures are nevertheless better than expected. TomTom sold more than five million satellite navigation units, nearly one million more than expected.
In the near future, the company will be facing competition from mobile phone manufacturers offering satellite navigation equipment. However, TomTom says the expected impact on its sales will be limited. The company expects this year's results will be similar to last year.
© Radio Netherlands Worldwide
TomTom unit in action
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