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Wednesday, June 3, 2015

Apple Renews Digital Maps Contract With TomTom

Apple has recently renewed its contract with TomTom. The news signaled Apple's support for the Dutch company and sent its shares to a six-year high. TomTom has been Apple's chief mapping data provider since 2012 when Google Maps was dropped as the in-built maps application in iOS devices.

Although specific details regarding the contract renewal were not available, many analysts believe it to be heavily in Apple's favor. The contract however, could have put an end to Nokia's HERE Maps dilemma when it comes to Apple.

Nokia has long planned to make its HERE Maps an independent entity and even sell it to one of the many interested parties. Apple was believed to be one of them along with companies like Uber and many automakers. But Apple's faith in keeping TomTom as its mapping data provider may have taken it out of contention for HERE.

TomTom plans on delving further into the upcoming self-driving car technology. The European company has won several large automotive contracts which could mean better days are still ahead.

Source: Reuters

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