TomTom has published its results for Quarter 2 2015, and it shows a 15% fall in revenue from the automotive sector.However its overall income was up to '265m, up '13m on the same quarter last year.Automotive business generated revenue of '26m in the quarter, compared with '31m in Quarter 2 2014.  The Company says this decline is mainly due to the phasing out of hardware-based contracts.
In the Telematics sector, revenue for the quarter was '35m, a 37% increase compared with '26m in Quarter 2 last year.CEO Harold Goddijn said, "We reported revenue growth in the second quarter and overall a solid set of results.  Our Automotive revenue contracted as anticipated, however we continued to book new business at levels which will support a growing business from next year onwards; Licensing delivered double-digit revenue growth in the quarter."We expect to have fully replaced our map-making system with a transaction-based platform that will enable near real-time maps, in the second half of 2015. With this technological innovation, TomTom is well positioned to address the need for accurate and up-to-date maps, for navigation applications and driver assistance applications, including Highly Automated Driving."The full report can be read here.