FILE PHOTO: TomTom mapping system is seen inside a vehicle in Eindhoven, Netherlands, November 21, 2019. REUTERS/Eva Plevier/File photo
(Reuters) -Digital mapping specialist TomTom suspended its revenue target for 2025 and trimmed its expectations for this year on Monday as weak demand for new cars weighs on its automotive location technology business.
The Amsterdam-based company said it would not meet its 600 million euro ($654 million) target for 2025 location technology revenue and that 2024 sales are expected to be at the lower end of its previously indicated range of 570 million to 610 million euros.
