Earlier this month, TomTom launched its VIA range of PNDs in India (personal navigation devices) and the company has now increased its stake in the Indian joint venture from 90% to 100%.
The joint venture was formed between industrial group Kalyani in 2008 and the Dutch navigation service provider, TomTom increased its stake from 60% to 90% in November 2010.
“India has a large untapped car navigation market. By owning TomTom India Ltd 100% we have full flexibility to execute our growth strategy. Our recent product introduction of the VIA series of our PND range is a great first step and we look forward to continue to develop bespoke products for the Indian market, like points of interest for landmark navigation” – Jocelyn Vigreux, Managing Director TomTom India.
TomTom PNDs are available in India (online) and at retail stores like Reliance Autozone/Digital, Carnation etc and the starting price of TomTom PNDs in India is Rs. 15,000.
Navigation Business: Industry Outlook
– India has a population of 1.2 billion and 22 million cars on the road. New car sales are forecast to grow to 4 million by 2015.
– Navigation system market in India is expected to be around $158Mn by 2014.
Recent Updates from LBS/Navigation Industry
MapmyIndia Launches CarPad, Android Based Tab For Navigation
`MapmyIndia, in collaboration with Qualcomm launched CarPad, Android based tab for navigation. The price of device is Rs. 22,990.
Zenrin In Talks To Buy 24% Stake In MapMyIndia
Japanese map publisher Zenrin is in advanced talks to invest $30 million for a 24% stake in MapmyIndia, the country’s largest provider of digital-map data and consumer-navigation services
Navteq Launches 3D Maps For India
The latest commercially released version of Navteq map is available for more than 2000 cities throughout India with 1.15 million km of road networks.
The product (Garmin-Asus A10) will have 4GB internal storage, 5MP camera and a built-in PoI database as well (the expected price of the device is between Rs. 20,000-22,000).
Recommended Video: Interview with Marc Naddell, VP of Developer Programs at Navteq on India opportunity.
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