TomTom reported that revenues from sports products more than doubled in the second quarter thanks to the introduction of its Cardio GPS sport watches, which are now available in 26 countries.


 

Revenue at the company’s Consumer Division was €169 million, slightly lower compared to €172 million in the second quarter of 2013. Excluding automotive hardware revenue, which fell 17.4 percent to €19 million during the quarter compared with with the second quarter of 2014, the Consumer Division showed growth for quarter thanks to growth in European PND and sport revenue.

 

 

The company, which is based in Amsterdam, reported that the decline in European PND sales continues to slow down. The estimated market size in Europe3 was 1.9 million units in the second quarter, 11% lower compared to the same period last year.

 

 

TomTom’s European market share for the quarter was approximately 52% with strengthening average sales prices (ASP). The estimated PND market size in North America was 1 million units, down 24% from the same period last year. TomTom pegged its North American market share for the second quarter at approximately 15% and said ASPs remained stable.