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TomTom to cut 10% of jobs due to improved automation

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Re: TomTom to cut 10% of jobs due to improved automation

#61

Post by jlg23 »

hvjackson wrote: post #48

Maybe this is just my consumer perspective but I feel like TomTom really missed on a pivot to other GPS-related products that Garmin has successfully nailed. 10-15 years ago both companies were known mainly for car sat-nav systems but Garmin now has an incredibly diverse product line with well-liked fitness watches, bike computers, exploring/off-grid satellite communicators, marine charts, aviation, etc. Whereas TomT…

I bought my first Garmin device more than 20 years ago and already back then they were the go-to source for consumer handheld GPS location/mapping devices.

Re: TomTom to cut 10% of jobs due to improved automation

#63

Post by sokoloff »

wjnc wrote: post #27
lozenge wrote: post #22

Earlier quoted context omitted.

Transfer to who? All the people who know how to put the assets to good use... are already employed by TomTom. As long as the company provides value to shareholders and customers, why wind it down? Not everything had to be about growth, growth, growth.

Let me be the first to say that hardcore capitalism isn't my usual purview. And that exactly the diversity of stakeholders is why I like this question. TomTom obviously offers no value to shareholders (no dividend policy, history of losses, perhaps except those searching for volatily). It's 49% owned by the directors with a 51% float. It clearly offers some value to customers since it has revenues. However, the reven…

> most auto manufacturers seem able to procure these materials in-house

Most auto manufacturers go outside for nav/infotainment units from suppliers like Here, MVI, Telenav, etc.

I don’t see any impenetrable barrier that TomTom couldn’t try to compete in that market (or as a data supplier to that market).

Re: TomTom to cut 10% of jobs due to improved automation

#64

Post by minhazm »

wjnc wrote: post #6

TomTom is such an interesting story in technology and finance. Went from zero to $ 10B+ between '05 - '07 [1]. Everyone you knew had one, used one, loved one. Then the sudden boom in mobile phones and mobile internet and the financial crisis. Total crash of the stock. Pretty much subsistence without any proper profits since '09-'10. Not enough IP to get bought, a few licensing deals here and there. Always falling rev…

I had an iPhone 3G without a data plan and TomTom was one of the only companies that offered a navigation application that worked completely offline. If I recall correctly TomTom also provided the maps data for Apple Maps initially and perhaps still does to some degree.

Re: TomTom to cut 10% of jobs due to improved automation

#65

Post by drno123 »

snarf21 wrote: post #38
belter wrote: post #14

Earlier quoted context omitted.

As the owner of several TomTom devices, who tried a smartphone and google maps as an alternative, my experience is that the maps are of higher quality and the navigation recommendations better. Multiple times, when in a Taxi in a foreign country, that used the usual solution of smartphone and Google maps, managed to get on time and find a tricky destination by popping up my trusted TomTom.

Navigation is all about the DATA . If it worked better (or worse) in a certain location, it is solely because they have access to quality data. Quality data costs a lot. Companies like NavTech used to literally drive cars down the road (think Google street view cards) and capturing everything (speed limit, number of lanes, boundaries, etc.) but they were bought by Nokia a long time ago. Not sure what is what these da…

The main competitor to NavTech was TeleAtlas, that was acquired by TomTom.

Re: TomTom to cut 10% of jobs due to improved automation

#66

Post by uticus »

minhazm wrote: post #64
wjnc wrote: post #6

TomTom is such an interesting story in technology and finance. Went from zero to $ 10B+ between '05 - '07 [1]. Everyone you knew had one, used one, loved one. Then the sudden boom in mobile phones and mobile internet and the financial crisis. Total crash of the stock. Pretty much subsistence without any proper profits since '09-'10. Not enough IP to get bought, a few licensing deals here and there. Always falling rev…

I had an iPhone 3G without a data plan and TomTom was one of the only companies that offered a navigation application that worked completely offline. If I recall correctly TomTom also provided the maps data for Apple Maps initially and perhaps still does to some degree.

On iOS 14, in Maps app, the info section shows TomTom pretty obviously at the bottom

Re: TomTom to cut 10% of jobs due to improved automation

#67

Post by nixass »

normie3000 wrote: post #56
hvjackson wrote: post #48

Maybe this is just my consumer perspective but I feel like TomTom really missed on a pivot to other GPS-related products that Garmin has successfully nailed. 10-15 years ago both companies were known mainly for car sat-nav systems but Garmin now has an incredibly diverse product line with well-liked fitness watches, bike computers, exploring/off-grid satellite communicators, marine charts, aviation, etc. Whereas TomT…

Wasn’t Garmin already an established company with other GPS-based product lines before they got into car satnav?

Correct, they are also in avionics business which gives them nice revenue too.

Re: TomTom to cut 10% of jobs due to improved automation

#68

Post by alFReD-NSH »

hvjackson wrote: post #48

Maybe this is just my consumer perspective but I feel like TomTom really missed on a pivot to other GPS-related products that Garmin has successfully nailed. 10-15 years ago both companies were known mainly for car sat-nav systems but Garmin now has an incredibly diverse product line with well-liked fitness watches, bike computers, exploring/off-grid satellite communicators, marine charts, aviation, etc. Whereas TomT…

Actually TomTom has deal with few car manufacturers to provide those feature-rich screens.

Re: TomTom to cut 10% of jobs due to improved automation

#69

Post by jrockway »

hvjackson wrote: post #48

Maybe this is just my consumer perspective but I feel like TomTom really missed on a pivot to other GPS-related products that Garmin has successfully nailed. 10-15 years ago both companies were known mainly for car sat-nav systems but Garmin now has an incredibly diverse product line with well-liked fitness watches, bike computers, exploring/off-grid satellite communicators, marine charts, aviation, etc. Whereas TomT…

I think you're right. Garmin has other big-ticket lines of business (Marine, Aviation) but "Fitness" is where they're making most of their money: https://www8.garmin.com/aboutGarmin/invRelations/reports/202...

"Auto" is notably sitting in last place.

I'm surprised that you can make more money from bike accessories than from aircraft avionics, but I guess everyone needs a bike accessory and nobody really NEEDS a G1000. Plus, no FAA to send paperwork to when you want to make a new bike pedal.

Re: TomTom to cut 10% of jobs due to improved automation

#70

Post by afterburner »

nixass wrote: post #67
normie3000 wrote: post #56

Earlier quoted context omitted.

Wasn’t Garmin already an established company with other GPS-based product lines before they got into car satnav?

Correct, they are also in avionics business which gives them nice revenue too.

Ah, the secret to "success" in all things: already having piles of money.
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