Shares in TomTom have risen sharply after an analyst at Rabobank International said Apple could be preparing a takeover bid. The thinking is that Apple could bid for TomTom to quickly improve its maligned Apple Maps service.
TomTom, Europe's leading vendor of portable navigation devices (PND), reported an unexpected net loss of €489 million for the second quarter. The company, which made a profit of €34 million
While Nokia's Ovi Store has stumbled badly since launch, the Ovi Maps app has become an instant success with downloads racing past one million per week, with a current average of one every second.