ViaMichelin exits personal satnav business
Competition was too much
21 January 2008 10:58 GMT / By Katie Scott
According to a news reports in the French paper La Tribune, the Michelin subsidiary ViaMichelin is soon to stop making personal navigation devices.
According to the newspaper, the company is opting to quit after capturing only 14% of its domestic market.
La Tribune pointed to competition from Dutch rival TomTom and others.
The move will result in job losses with around 60 of the firm's 170 employees facing redundancy.
Warranties will apparently still be honoured for products already on the market.
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