Press Release
| Nextar: Navteq’s #4 Customer (Last updated on 8/4/2007) |
Nextar’s rapid growth in the Navigation category is reflected in Navteq’s sales records. While only a minor player even as late as 2006, Nextar is now Navteq’s (the ultra-dominant GPS map supplier in the North American market) 4th largest customer and very well could be number 3 by year’s end. Stephan Smith from Navteq recently stated at the SEMA Show, “Nextar has been a pleasure to deal with and its raid growth – truly amazing- We view them as the up-and-coming player in the GPS market”.
The bulk of Nextar’s sales growth in Navigation has been on the back of its X3 Series, a 3.5” handheld or car-mounted GPS unit. The X3 series is unique in that it offers the latest in terms of aesthetics and ergonomics while serving as a platform for an economic no frills version (the X3) a step up piece featuring Text to Speech (X3T) and finally a loaded version includes Bluetooth amongst other features (X3B). Wee Liam Yau, the Navigation Product Specialist at Nextar believes that Nextar’s and the X3’s success is a result of its feature/cost flexibility and ergonomic design – “The X3 allows us to feature the item in a variety of ways and thus reach the desired price point in a form-factor and style that encourages the consumer to use the unit in and on numerous venues and occasions!”
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