AMSTERDAM (Reuters) – TomTom CEO Harold Goddijn said on Tuesday that user experience, not price, appeared to be the main reason why several of the company’s former customers have chosen Google Android-based systems for their built-in dashboard navigation systems.
Goddijn was speaking to analysts after the company said it had lost a supply contract with Volvo that was due to go into effect in 2019. That followed a defection by a group led by Renault last month.
TomTom shares were down 13.1 percent at 6.23 euros at 1315 GMT, as investors focused on the Volvo news, and despite the company announcing third-quarter earnings that were better than expected.
Reporting by Toby Sterling; Editing by Kirsten Donovan