NAVTEQ Maps Selected for Launch of Global Navigation, Inc.'s Navigation Devices
Written by NAVTEQ
Wednesday, 22 June 2005
Global Navigation, Inc. to Introduce Its First Portable DVD Navigation Device
CHICAGO, June 22 -- NAVTEQ (NYSE: NVT), a leading global provider of digital maps for vehicle navigation and location-based solutions, has been selected by Global Navigation, Inc., a leading mobile GPS device sales company committed to bringing GPS products to North America, to provide NAVTEQ(TM) maps of the United States and Canada for integration into its newest integrated portable DVD navigation device. Global Navigation, Inc. began shipping this new device, the GPS/DVD GD-70, under the INITIAL brand name to both brick and mortar and online retailers in mid-May 2005.
Because NAVTEQ's proprietary collection process involves driving the roads to capture the reality of the roadway, NAVTEQ maps offer the quality, richness and detail necessary to provide accurate routing, which the portable navigation market segment and service providers have come to expect.
Global Navigation, Inc.'s GD-70 offers dual functionality: it is a completely mobile voice-guided GPS navigation unit and DVD player. With the touch of a button, the display is able to switch between a standard navigation screen and a DVD. Additionally, the voice feature can be activated to communicate verbal routing directions while a DVD is playing. The device has a 7" full color screen that contains state-of-the-art touch-screen technology, and includes complete mapping of the U.S. and major Canadian routes.
Global Navigation, Inc. plans to leverage NAVTEQ maps as the foundation for a series of additional dual entertainment navigation solutions the company expects to launch over the course of the next year. The new navigation products will include several mobile navigation devices, and two in-dash models with 5" and 6.5" screens. These new devices will also be distributed under the INITIAL brand name throughout the United States and Canada.
"Global Navigation, Inc. is at the forefront of companies merging navigation and entertainment into a single device," commented Winston Guillory, Senior Vice President - North American Sales for NAVTEQ. "The company understands that the success of its new line of multi-functional products depends heavily on the quality of the navigation element of the solution, and we are delighted to be collaborating with Global Navigation, Inc. to enrich the navigation experience of this innovative new device."
"We chose NAVTEQ not only because of its best-in-class maps, but also because the company has shown itself to be a resourceful and committed ally in helping us enter the mobile navigation category, " said Denton Chang, President of Global Navigation, Inc. "NAVTEQ brought the expertise and insight we needed to create a superior navigation solution for our customers in addition to excellent channel support."
About NAVTEQ
NAVTEQ is a leading provider of comprehensive digital map information for automotive navigation systems, mobile navigation devices, Internet-based mapping applications, 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 1,600 employees located in 122 offices in 21 countries. NAVTEQ is a trademark in the U.S. and other countries.
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 the caption "Risk Factors" in the Company's Registration Statement on Form S-3 (Registration No. 333- 123628), as amended, 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 as a result of new information, future events or otherwise.
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