TomTom Down 29%

TomTom Golfer 2TomTom’s latest quarterly results (link to: tomtom.com) do not make for any kind of cheerful reading for the Consumer Division.

Q3.17 vs Q3.16 show revenues down by 29% from Eu137m to Eu97 with a comparable YTD decline of 22%.

Ominously the report quotes “Strategic review of Consumer Sports in progress“.

This information would clearly have been known and forecast internally quite some time ago and backs up the rationale for recent redundancies.

Who should buy TomTom in your opinion? And what should they do with it?

FYI: Consumer=location based products in drive/sports categories

  • Running, hiking+golf watch – basically the same hardware (good)
  • Bandit Action Cam (a bit old)
  • Fat sensor wrist band (hmmm)
  • Online platform and app (nice)
  • A reduced number of people with product/market-realted skills (done some good work previosuly)

The brand is very strong and the rest of TomTom wouldn’t want to sell it off I’d imagine. So that leaves the tech/people that would need re-branding/re-purposing. Polar? Lezyne? VC?

 

TomTom Announces Redundancies – And a new Garmin next week?

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bondcrash
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They should sell to Nike who could finally get their own “professional” sport watches and dump those Apple gymmicks whom they wont sell to any “serious” athlete out there. After all if i am not mistaken those early Nike (TomTom) watches were quite decent…

Ray Maker
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It’s over already. Things set in motion last week and key employees already being let go, the remainder of the division given a timeline. Really too bad, they nailed the low-end of the market so well.

Luís
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Luís

When a brand does not fit, it dies. Today, in sports watches, having some design but with weak software support end up succumbing. I fear that others will know the same path. Probably Garmin (very strong), maybe Suunto and Apple will dominate, and some brand cheap chinese brands like amazfit.