TomTom earnings hit by production costs, dollar
Satnav maker TomTom booked net profit of €10.3m in the third quarter of 2010, down from €30.5m a year ago, due to higher production costs and the lower dollar.
Sales rose 3% to €375m.
The sale of portable navigation systems is being hit by satelllite navigation applications on smart phones. However the sale of inbuilt systems to car manufacturers is up, TomTom said in a statement.
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