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TomTom Shares Surge on Strategy Shift

October 24, 2011

TomTom, the Dutch navigation equipment and digital map maker, is switching focus away from the cash-bleeding personal navigation devices that made it a household name to its auto and mapping services to restore growth and profits.

"We have started a restructuring program which will focus our organization on the areas where we see the greatest potential for growth, of which Automotive and Content & Services are clear examples," said Chief Executive Harold Goddijn.

Best known for its personal navigation devices (PNDs) used by car and truck drivers, TomTom also sells real-time traffic services

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