Navigation systems maker TomTom on Tuesday lowered its sales forecast for this year due to the downturn in the economy. Net profit in the third quarter is however higher-than-expected at €58m.

The firm said it expects sales in 2008 to be between €1.75bn and €1.85bn compared with the €1.95bn to €2.15bn forecast earlier.
The number of navigation devices sold by TomTom dropped by 500,000 but the average retail price rose due to the introduction of new more expensive models, the company said.