April 17, 2018 / 10:01 AM / a year ago

TomTom expects value of automotive deals to fall in 2018

FILE PHOTO: TomTom navigation are seen in front of TomTom displayed logo in this illustration taken July 28, 2017. REUTERS/Dado Ruvic/File Photo

AMSTERDAM (Reuters) - Dutch mapping and navigation company TomTom (TOM2.AS) expects the value of possible deals in the automotive industry to fall this year, Chief Executive Harrold Goddijn told shareholders at their annual meeting on Tuesday.

“We think the total value of potential customers will be lower than in 2017,” Goddijn said. “What I can’t say is which contracts we think we can win.”

Goddijn also said it was not possible to forecast the order intake for 2018.

Reporting by Toby Sterling; editing by Jason Neely

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