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July 22nd, 2011
Satnav Maker TomTom Posts a Loss Following One-off write-down

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Satellite navigation system maker TomTom posted a loss of €489m in the second quarter of this year, due to a one-off impairment charge of €512m as the market for personal devices continues to decline. Second-quarter turnover was down 13% on a year ago at €314m. In June, TomTom reduced its full year sales forecast to between €1.225bn and €1.275bn. Read More