Join Forces with Tencent, Mazda and VW, Telematics Business Contributes Half Revenue for Navinfo

   Date:2014/09/24     Source:

Navinfo Built Partnership with Tencent, Mazda and VW
In 2014, map company-Navinfo accelerated transformation to telematics business by successively conducting cooperation with Tencent, Mazda and VW.

In May, Navinfo sold 11.28% equities to Tencent at a price of RMB1.17 billion.

In July, it cooperated with Mazda to develop “Pleasant Driving Assistant” which was then installed on Chang’an Mazda3 Axela. “Pleasant Driving Assistant”’ provides 6 services, including POI search, weather forecast, news broadcasting, message reading, internet radio, and music player, but its networking service needs to rely on mobile phone.

In August, Navinfo offered telematics business to VW’s imported cars, such as Tiguan, Beetle, Scirocco, Golf R high-performance open-topped sports car, Sharan, Magotan station wagon, and Magotan Alltrack. Regarding VW’s telematics service, Navinfo is responsible for content integration, mobile phone APP development and building of background structure, while maintenance service is provided by Beijing Tuxin Zhisheng Information Technology Co., Ltd., a company jointly established by Sinomach Automobile and Navinfo.

Telematics Business Becomes Navinfo’s Major Growth Engine
In 2013, Navinfo achieved revenue of RMB880 million. With respect to revenue structure, revenue from in-vehicle navigation products still holds the largest proportion, while that from telematics & map compiling soared thanks to growing revenue from subsidiaries like China Satellite Navigation & Communication Co., Ltd., specifically, its telematics & map compiling business generated revenue of RMB172 million, accounting for 19.55% of the total and rising by 40.92% year on year.

Revenue Structure of Navinfo by Product, 2013



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