INTERVIEW-TomTom CEO says to win from market consolidation
BERLIN, Sept 3 (Reuters) - Dutch navigation device maker TomTom (TOM2.AS) expects to grow its market share in Europe and North America as a result of more consolidation in the sector, its chief executive said in Friday.
"We see more consolidation, and this will translate for us into market share gains in Europe and North America," TomTom's Chief Executive Harold Goddijn told Reuters at the consumer electronics trade show IFA in Berlin.
"We are not looking to buy market share," he said, adding he would not rule out smaller, tech-driven acquisitions.
Like its main competitor Garmin (GRMN.O), TomTom is changing its business model which has come under pressure after Google (GOOG.O) and Nokia (NOK1V.HE) began offering free navigation features on their GPS-equipped smartphones earlier this year.
TomTom said in July it had a 49 percent market share in Europe, up from 44 percent last year. Its market share in North America increased to 23 percent from 19 percent a year earlier.
The company has high hopes of a new navigation device, the GO 1000, which is build on a new open software infrastructure.
The company will start shipping its new high-end navigation device the GO 1000 this week or next week, Goddijn said.
(Reporting by Tarmo Virki, writing by Harro ten Wolde, editing by Marcel Michelson)
((harro.tenwolde@reuters.com; Reuters Messaging: harro.tenwolde.reuters.com@reuters.net; +31 20 504 5017)) Keywords: TOMTOM/
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