TomTom cuts sales forecast

Satellite navigation system maker TomTom said on Tuesday it expected full year turnover to reach between €1.8bn and €2bn, compared with an earlier forecast of up to €2.2bn.

The company kept its unit sales estimate unchanged at between 14 million and 15 million, indicating sharp price cuts, news agency Reuters said.
First quarter sales amounted to around two million units, generating turnover of up to €270m, well below analysts expectations. In the first three months of 2007, sales reached €296m.
TomTom fell up to 13% on the Amsterdam stock exchange in early trading.

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