NNG LLC
CORPORATE/TECHNOLOGY
Outstanding Financial
Results
NNG LLC,
the leading navigation solution provider for the Automotive, Personal and
Wireless navigation systems has closed a successful 2012 fiscal year, thanks to
its well-established business in the automotive OEM market for Line Fit
Navigation.
The increase in demand for the iGO Navigation software has opened new
doors for the navigation solution provider worldwide, including the Indian and
Japanese markets.
NNG has thus entered the Indian market through a partnership with local
solution provider Ayana Navigation Solutions (ANS).
NNG continues its steady growth as navigation solution provider to the
automotive industry’s biggest OEM and Tier1 players with notable 42% year on
year increase in net revenue. The gross margin shows a well-marked growth of
63% compared to 2011, which underlines the company’s commitment towards its
most important business segment, the automotive industry.
Working together with its Tier 1 Partners and their OEM customers as well
as strengthening the company’s regional presence, has lead to deep
localization, which has become the key to NNG’s widespread success in such
markets as India, Japan, China, and South Korea. As a result, in just over one
year, NNG’s export has expanded by nearly 50%. The company boosted its number
of employees by 35% in order to fulfill partner requirements, and plans a
similar increase by the end of 2013. NNG has also recently set up its new
headquarters to accommodate the increased staffing demand.
“Globally, we have set foot among the biggest OEMs and Tier1s, proving
that our expert teams can achieve great results with a reliable software. We achieved
14% market share in the automotive line fit navigation in 2012, approaching now
25% and our aim is to gain 40%. We have signed orders for 30 million units of
the iGO Navigation software within the coming years,” noted Péter Balogh,
CEO of NNG. “NNG’s future looks very
bright and we are eagerly waiting to announce our latest innovation at the
upcoming Telematics Detroit 2013 conference and exhibition, which will answer some
of the industry’s most pressing navigation-related problems.”
About NNG LLC
Installed in more than 20 million devices throughout the world and with over 30 million signed orders for the iGO Navigation software in the coming years to 30 global car manufacturers, iGO Navigation from NNG continues to develop global markets for navigation solutions through 8 company branches, including Hungary, Israel, India, Australia, China, and the United States.
To find out more about NNG please visit www.nng.com. For more information about iGO Navigation products, visit www.igonavigation.com.
Also follow us on:
Global Navigation Solution Provider NNG Announces
Outstanding Financial
Results
NNG LLC,
the leading navigation solution provider for the Automotive, Personal and
Wireless navigation systems has closed a successful 2012 fiscal year, thanks to
its well-established business in the automotive OEM market for Line Fit
Navigation.
The increase in demand for the iGO Navigation software has opened new
doors for the navigation solution provider worldwide, including the Indian and
Japanese markets.
NNG has thus entered the Indian market through a partnership with local
solution provider Ayana Navigation Solutions (ANS).
NNG continues its steady growth as navigation solution provider to the
automotive industry’s biggest OEM and Tier1 players with notable 42% year on
year increase in net revenue. The gross margin shows a well-marked growth of
63% compared to 2011, which underlines the company’s commitment towards its
most important business segment, the automotive industry.
Working together with its Tier 1 Partners and their OEM customers as well
as strengthening the company’s regional presence, has lead to deep
localization, which has become the key to NNG’s widespread success in such
markets as India, Japan, China, and South Korea. As a result, in just over one
year, NNG’s export has expanded by nearly 50%. The company boosted its number
of employees by 35% in order to fulfill partner requirements, and plans a
similar increase by the end of 2013. NNG has also recently set up its new
headquarters to accommodate the increased staffing demand.
“Globally, we have set foot among the biggest OEMs and Tier1s, proving
that our expert teams can achieve great results with a reliable software. We achieved
14% market share in the automotive line fit navigation in 2012, approaching now
25% and our aim is to gain 40%. We have signed orders for 30 million units of
the iGO Navigation software within the coming years,” noted Péter Balogh,
CEO of NNG. “NNG’s future looks very
bright and we are eagerly waiting to announce our latest innovation at the
upcoming Telematics Detroit 2013 conference and exhibition, which will answer some
of the industry’s most pressing navigation-related problems.”
About NNG LLC
NNG is the leading
navigation solution provider for the Automotive, Personal and Wireless
navigation markets, offering on-board, 3D navigation applications that
incorporate connected features and a universal, online update portal. The core
technology is based on the standard-setting iGO Navigation Engine, comprising innovative
navigation software, fluid User Interfaces, and related content and services to
device manufacturers, auto makers, network operators, professional transport
specialists and individual users globally.
Installed in more than 20 million devices throughout the world and with over 30 million signed orders for the iGO Navigation software in the coming years to 30 global car manufacturers, iGO Navigation from NNG continues to develop global markets for navigation solutions through 8 company branches, including Hungary, Israel, India, Australia, China, and the United States.
To find out more about NNG please visit www.nng.com. For more information about iGO Navigation products, visit www.igonavigation.com.
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