NAVTEQ maps out Sony’s new Navigation Device, Sony nav-u
May 15, 2006
nav-u Available in both North America and Europe
Chicago, IL – – NAVTEQ (NYSE: NVT), a leading global provider of digital map data for vehicle navigation and location-based solutions, has been selected to as map provider the Sony nav-u, Sony’s new portable navigation device (not in Europe, we had a prior model) (PND).
The Sony nav-u navigation device is a portable, user-friendly device featuring an intuitive icon-based touch screen that helps drivers easily map a destination, locate points of interest, and reroute around traffic jams. The device enables optimized route planning and destination programming, and provides clear and audible voice-prompted turn-by-turn guidance.
NAVTEQ’s exclusive data collection process involves field analysts physically driving and re-driving to more closely reflect the ever-changing road network, so that NAVTEQ maps include the detailed information essential for accurate routing.
The Sony nav-u is available in both North America and Europe. In Europe, seamless travel between 27 countries is available in 15 languages.
“In its new navigation offering, Sony focused on providing nav-u users with highly reliable and accurate mapping information. NAVTEQ is recognized for the excellent quality of its map data and the company’s acknowledged expertise in navigation. The nav-u offers many points of interest, including service stations, parking information, and restaurants, enabling optimized navigation,” explained Sony spokesman Patrick Naltet. “We are excited to launch this new product and trust in NAVTEQ, a leading global provider of digital map data.”
“Sony brings proven electronics experience and established distribution capabilities to the portable navigation arena,” added Winston Guillory, Senior Vice President, Consumer and Business Applications, NAVTEQ. “As a world-renowned technology company, Sony understands the importance of high quality components – like NAVTEQ maps – as a differentiator.”
The Sony nav-u is available across Europe.
Sony manufactures audio, video, communications and information technology products for the global consumer and professional markets. With its music, pictures, game and online businesses, Sony is uniquely positioned to be one of the World´s Leading Consumer Brands. Sony recorded consolidated annual sales of EUR 53.43 billion (yen 7,160 billion) for the fiscal year ended March 31, 2005 and it employs approximately 151,400 people worldwide.
In Europe, Sony recorded consolidated annual sales of EUR 12.03 billion (yen 1,613 billion) for the fiscal year ended March 31, 2005, based on an average market exchange rate for the same period of yen 134 to the EUR. Sony Europe, headquartered at the Sony Center am Potsdamer Platz in Berlin, is responsible for the company’s European electronics business and registered consolidated sales of EUR 8.87 billion for the fiscal year ended March 31, 2005.
NAVTEQ is a leading provider of comprehensive digital map information for automotive navigation systems, mobile navigation devices, Internet-based mapping applications, and government and business solutions. NAVTEQ creates the digital maps and map content that power navigation and location-based services solutions around the world. The Chicago-based company was founded in 1985 and has approximately 1,900 employees located in 131 offices in 23 countries.
NAVTEQ is a trademark in the U.S. and other countries. © 2005 NAVTEQ. All rights reserved.
This document may include certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “seeks”, “estimates” or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to various risks and uncertainties, including those set forth under “Item 1A. Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2005, as filed with the Securities and Exchange Commission.
Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. NAVTEQ does not undertake any obligation to update any forward-looking statements contained in this document.
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