NAVTEQ and Radio Shack Team up to Help Lead the Development of Portable Navigation Device (PND) Mar
Written by NAVTEQ
Monday, 16 June 2008
GPS Zones, Literature and Videos Help Customers Learn about GPS and Navigation
CHICAGO, June 16 -- NAVTEQ (NYSE: NVT), a leading global provider of digital map data for vehicle navigation and location-based solutions, has collaborated with Radio Shack Mexico, a consumer electronics specialty retailer of wireless communications and electronic parts, to provide GPS Zones in ten retail stores in Mexico City and the surrounding area with the potential for continued expansion before the end of 2008.
"NAVTEQ is pleased to be engage in this mutually beneficial relationship with Radio Shack as we execute our shared vision to develop the Portable Navigation space as we have done with channel partners in both the US and Europe," stated Jim Dineen, director and general manager-Latin America, NAVTEQ. "As the first and only comprehensive, navigable map supplier to PNDs in Mexico, we are looking forward to enabling both a best in class merchandising experience with a world class channel partner as well a best in class turn-by-turn navigation experience."
GPS ZONES are interactive kiosks located in Radio Shack stores that are dedicated to the exhibition of different PNDs. Each GPS Zone will feature PND devices incorporating the NAVTEQ(R) map of Mexico from manufacturers like Magellan, Mio, Panasonic and Explorer. The interactive kiosks will provide customers with the opportunity to test out devices first-hand. Additionally, educational tools like collateral and videos developed jointly by NAVTEQ and Radio Shack will be prominently displayed to help educate consumers on GPS in general and specifically on the benefits of personal navigation devices.
With its rich map database, NAVTEQ brings a broad spectrum of solutions to life. NAVTEQ digital content optimizes location-driven applications by providing highly detailed map data that enhances accuracy and performance. By employing a universal data collection method that affords quality and precision, NAVTEQ is able to cover millions of miles annually, culminating its efforts into one seamless map that spans the globe.
The NAVTEQ(R) map of Mexico includes 2,454 cities, more than 150,000 kms in connectors (roads and highways) and covers a population of approximately 100 million, including detailed navigable coverage in Mexico City, Monterrey and Guadalajara metropolitan areas.
In addition to road network coverage the Mexico map contains a full set of features including 58,000 points of interest (POIs) such as restaurants, hotels, gas stations and banks enabling users to select their destination either by address or the POI listing.
About Radio Shack
Radio Shack (NYSE: RSH) is one of the nation's most experienced and trusted consumer electronics specialty retailers. The company has a presence through almost 6,000 company-operated stores and dealer outlets in the United States, more than 180 RadioShack locations in Mexico and nearly 800 wireless phone kiosks.
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 more than 3,600 employees located in 187 offices and in 39 countries.
NAVTEQ is a trademark 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 most recent Annual and Quarterly Reports 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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