Page 187 - How China Is Winning the Tech Race

Prices for installed GPS systems range from $1,200 to $2,500, according to
Telematics, and portable devices cost $200 to $400.

3. In Europe, 15 percent of cars have navigation equipment; the percent-
age for North America is 8 percent, according to the British research firm
Canalys.
4. The United States had 1.3 million navigation-tooled cell phones and
PDAs in 2006, according to Telematics Research Group.
5. Location services built for GPS-equipped phones is another growth area.
This market will climb from $1 billion in 2007 to more than $8.5 billion by
the end of 2010, with Asia leading in growth, followed by North America and
Europe, according to the telecom analyst firm Juniper Research.
6. Both mapmakers have been in business for more than two decades and
are publicly listed, TeleAtlas on the Frankfurt Stock Exchange and Navteq on
the New York Stock Exchange. TeleAtlas was forecasting revenues of $440
million in 2007, and Navteq was shooting for revenues of $795 million.
7. In a sign of the growing importance of navigational phones, cell phone
maker Nokia agreed in October 2007 to acquire Navteq for approximately
$8.1 billion. Just a few months before, in August 2007, TomTom, the world’s
largest maker of car navigation devices, announced that it planned to buy
TeleAtlas for $2.7 billion.
8. Navteq partnered with the local operation NavInfo to form NAV2, and
TeleAtlas signed an agreement with Beijing Changdi Mapping Technologies to
license and distribute the domestic firm’s maps.
9. Both eDuShi and City8 have won honors in the Red Herring Asia 100
annual tally of the region’s top innovators.
10. The deal with Lingtu was not entirely straightforward. Gobi first had
to buy out state-run Beijing Venture Capital Corp., which had backed Lingtu
with $1 million in the early days.

11. Japan’s mobile communications company NTT DoCoMo was an
investor.

12. The investors were the Silicon Valley firms Sierra Ventures and Oak
Investment Partners and the New York-based global asset management firm
AllianceBernstein.

Endnotes 161