TomTom Calls it Quits in the Wearable and Sports Camera Market
Mike Sanders / 3 years ago
Ahead, Make a U-Turn
TomTom is a brand more synonymous with satellite navigation systems in cars. I personally have a TomTom and as a product, they’re pretty awesome. Easy to use, intuitive with a nice friendly interface.
In recent years, the company attempted to diversify by entering the wearable and sports camera market. This included such peripherals as health checkers on your wrist to action cameras on your bike.
In a formal press statement, TomTom has said:
“TomTom today reconfirmed its strategy to build on its leading position in navigation technologies and to provide location content, software, and services to business customers.”
The decision seems to be largely based on poor sales and quarterly figures.
What is the future for TomTom?
For the moment, it looks like the company will attempt to consolidate what it has established itself as a market leader in. Such products as wearables was certainly a logical step forward, however, it just simply hasn’t worked out for them.
Such product diversity is necessary to create growth and innovations. However, unfortunately, there are often casualties in this method.
This restructuring has resulted in the loss of 136 jobs at the company.
I never owned any of the products, but I understand that in general, they were good. Similar to their sat navs, they were functional and easy to use. Perhaps a slight issue was in the brand name. TomTom, after all, isn’t a very ‘flash’ name for a prestige product.
What will happen to the existing lines?
They have promised that support will continue for the existing products. They’re just simply not going to be making any more of them.
It’s sad to see a company try and fail, but at least they did try. Kudos to TomTom.
Did you ever own one of the wearable or action cameras? Did you choose an alternative brand and if so what led you to that decision? Let us know in the comments!