NAVTEQ Global LBS Challenge extends into Asia-Pacific
Written by NAVTEQ
Monday, 09 July 2007
APAC Winners to be Announced at CommunicAsia 2008 in Singapore
Chicago, Ill. NAVTEQ (NYSE: NVT), a leading global provider of digital map data for vehicle navigation and location-based solutions, announced today at a press event in Sydney, Australia that the company will bring a dedicated NAVTEQ Global LBS Challenge event to Asia-Pacific (APAC) to further facilitate the participation of developers across the region.
Registration for APAC participants officially begins October 2007 and an awards ceremony announcing APAC winners will be held at CommunicAsia in June 2008 in Singapore.
Since its inception in 2003, the NAVTEQ Global LBS Challenge has become the premier program for the development of cutting-edge location-based services for wireless applications.
NAVTEQ Global LBS Challenge contestants typically range from start-up developers hoping to launch their first commercial application to established companies pushing the limits of their creativity.
This annual competition has helped eight previous participants receive venture capital funding and nine past winners have launched commercial applications on major wireless carriers, including Verizon Wireless and Sprint.
In 2007, NAVTEQ and its sponsors awarded a prize pool collectively worth almost $2 million.
Interest in location-based services in Asia continues to surge as map coverage expands throughout the region.
NAVTEQ already has map coverage in countries such as Australia, China, Hong Kong, India, Macau, Malaysia, Singapore, South Korea, Taiwan and Thailand.
Also fueling the growing interest of LBS in Asia is the vast number of wireless developers in the region.
According to an Evans Data Corporation study in the fall of 2006, nearly 40% of the world's wireless developers reside in the APAC region.
"The rapid expansion of map coverage of the Asia-Pacific region combined with the wealth of developers located there will be a driving force for the creation of new location-based services in Asia in the years to come," said Winston Guillory, Senior Vice President, Consumer & Enterprise, NAVTEQ.
"The NAVTEQ Global LBS Challenge is the perfect vehicle to continue the expansion of LBS application development in this region and help shine a spotlight on some of APAC's most talented developers."
For detailed information on the NAVTEQ Global LBS Challenge, visit http://www.LBSChallenge.com
About NAVTEQ
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 2,800 employees located in 167 offices and 28 countries.
NAVTEQ and NAVTEQ Global LBS Challenge are trademarks in the U.S. and other countries. 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.
The 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 each of the Company's Annual Report on Form 10-K for the year ended December 31, 2006 and the Company's Quarterly Report on Form 10-Q for the quarter ended April 1, 2007, 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.
Web site:
http://www.navteq.com
http://www.LBSChallenge.com
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