TomTom shares fall after Apple announces own mapping system
TomTom NV, a maker of digital mapping technology, fell Friday after the website TechCrunch reported that Apple Inc. plans to rebuild its Maps application for iPhones with its own data, putting the companies’ long-running partnership at risk,” Mark Gurman reports for Bloomberg.
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“Apple dropped Google Maps in 2012 and launched a redesigned Maps app with data primarily provided by Amsterdam, Netherlands-based TomTom and other sources,” Gurman reports. “The app immediately received poor reviews.”
“For the past few years, Apple has been building a custom maps infrastructure, drawing from its network of more than 1 billion iPhones and information collected from vans touring the globe with cameras and high-tech sensors,” Gurman reports. “Apple will begin rolling out its new data through this year’s iOS 12 iPhone and iPad software upgrade, beginning with cities in Northern California, the website TechCrunch reported.”
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