“Chief Executive Harold Goddijn said robust demand from automaker customers, rather than new customer wins, were behind the outlook upgrade,” Sterling reports. “He said he did not expect U.S. tariffs on China, where TomTom outsources the manufacture of its hardware, to impact earnings.”
“Navigation devices are “apparently on the list of products that incur a tariff when going to the U.S.,” Goddijn said,” Sterling reports. “However, the bulk of TomTom’s sales are outside the United States and Goddijn said he did not expect a ‘material effect.’ He said, ‘It is a very low number and very low potential increase in our cost.'”
Read more in the full article here.
MacDailyNews Take: Good for TomTom and especially for those who got into TomTom at the ned of June.
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