TomTom Wearables Business Has 29% Q3 Revenue Decline
TomTom’s Q3 sports wearables business plummeted 29 percent and remains “under review,” said the company in a Q3 financial news release Friday. Revenue in the consumer sports segment -- comprising fitness trackers; golf, running and outdoor watches; and an action…
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cam -- fell to roughly $115 million from the year-ago quarter, it said. The company announced last month it was reorganizing its consumer sports business to focus on location, software and services for business customers. It planned to eliminate 136 “redundant” jobs, it said. TomTom had a $6.2 million Q3 loss as overall revenue fell 9 percent from the year-ago quarter to roughly $257 million, it said. The company expanded its traffic service to 68 countries and launched the TomTom EV Service, providing real-time availability of electric vehicle charging stations.