Portable navigation devices are taking off
The company posted 2005 sales of $856 million, and forecasts sales between 1.2 and 1.3 billion for 2006. TomTom units only starting selling at major U.S. retailers in June 2005, and by December the company reached 25 percent market share,
The European market for portable navigation devices is expected to nearly double in 2006, to about 7 million units. It looks like portable devices are reinventing personal navigation, much like the iPod reinvented personal music.
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