Financial Results for Nokia HERE Show Growth
Nokia has released its financial results for the fourth quarter and the full year 2013, which show growth for its HERE division, formerly known as Navteq.
In the fourth quarter 2013, HERE had sales of new vehicle licenses of 3.2 million units, compared to 2.4 million units in the fourth quarter 2012 and 2.6 million units in the third quarter 2013. On a year-on-year basis, unit sales to vehicle customers increased primarily due to higher vehicle sales and higher consumer uptake of in-vehicle navigation.
Sales to vehicle customers represented well over 50% of external HERE net sales in the fourth quarter of 2013, as well as in the fourth quarter of 2012 and the third quarter of 2013.
The automotive success was partially offset by lower sales to personal navigation device (PND) customers. External sales for PNDs went up 10 percent, from €204 million in the fourth quarter of 2012 to €225 in the fourth quarter of 2013.
HERE total sales decreased from €278 million to €254 million (10 percent), which Nokia said is because of the fast decline of internal sales (such as navigation and maps found in Nokia devices). Sales were €74 million at the end of 2012, compared to only €29 million for the end of 2013.
About the Author: Tracy Cozzens
Senior Editor Tracy Cozzens joined GPS World magazine in 2006. She also is editor of GPS World’s newsletters and the sister website Geospatial Solutions. She has worked in government, for non-profits, and in corporate communications, editing a variety of publications for audiences ranging from federal government contractors to teachers.
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