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HERE powers 3.2 million vehicles globally with embedded navigation and maps in Q3

Published: October 28, 2014 | Espoo, Finland

The summary of the Nokia Corporation Interim Report for Q3 2014 and January-September 2014 has been made public. The complete Interim Report with tables for Q3 2014 and January-September 2014 is available at http://company.nokia.com/financials.

HERE achieved 12% year-on-year growth in net sales, from EUR 211 million in Q3 2013 to EUR 236 million in Q3 2014. In Q3 2014, HERE sold map data licenses for the embedded navigation systems of 3.2 million new vehicles globally, compared to 2.6 million vehicles in Q3 2013.

Over the period of one year, unit sales to vehicle customers increased primarily due to higher consumer uptake of in-vehicle navigation and higher vehicle sales. On a sequential basis, unit sales to vehicle customers decreased primarily due to lower seasonal vehicle sales. Sales to vehicle customers represented well over 50% of HERE net sales in the third quarter 2014, as well as in the third quarter 2013 and the second quarter 2014.

HERE will continue to be a leading LBS business. We plan to continue to build on our strength in the automotive segment, to expand our enterprise business, and extend our reach to consumers through deals with mobile device vendors such as Samsung and internet players such as Yahoo. Thus, we continue to believe we have an opportunity to create significant value with the HERE business, as connected cars become more pervasive and as enterprises deploy new location-services to improve their productivity and efficiency.

– Rajeev Suri, President & CEO, Nokia

Source: Nokia

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