Fine Digital Products to Feature NAVTEQ(R) Maps for North America18 November 2005
NAVTEQ (NYSE: NVT), a leading global provider of digital maps for vehicle navigation and location-based solutions, has signed a license agreement with Fine Digital USA, a leading navigation solution provider, to feature NAVTEQ map data in its new portable navigation (PND) product, FineDrive 400. The FineDrive 400 is a portable GPS navigation system that provides destinations with 2D/3D map views of the 48 contiguous United States and Canada. Fine Digital's FineDrive 400 features detailed street level map data and millions of points of interest (POI's), such as gas stations, hotels and restaurants, provided by NAVTEQ. Additionally, the device offers turn-by-turn voice and visual guidance. The FineDrive 400 features an SD memory card preloaded with NAVTEQ data and a built-in 128MB internal memory with expandable SD memory slot. "It is exciting to work with Fine Digital as they launch this new series of portable navigation devices. Fine Digital's previous experience in evaluating digital map data and decision to utilize our data speaks to the value of the NAVTEQ map," commented Winston Guillory, Vice President - North America Sales, NAVTEQ. "We look forward to supporting Fine Digital with our map data as they continue to expand globally." "NAVTEQ has a proven history of delivering accurate and highly reliable map data. Aligning our products with NAVTEQ maps affirms our commitment to provide quality portable navigation products to our customers," commented Dr. K.S. Lee, President of Fine Digital USA. "Along with their proven track record as a leader of mapping data, NAVTEQ's single specification of its maps will simplify the global extension of Fine Digital's product portfolio." The FineDrive 400 is currently available in North America, and can be found at Staples and other retail locations. About NAVTEQ NAVTEQ is a leading provider of comprehensive digital map information for automotive navigation systems, mobile navigation devices, Internet-based mapping applications, and government and business solutions. NAVTEQ creates the digital maps and map content that power navigation and location-based services solutions around the world. The Chicago-based company was founded in 1985 and has approximately 1,800 employees located in 127 offices in 21 countries. NAVTEQ is a trademark in the U.S. and other countries. About Fine Digital USA Fine Digital USA is a leading provider of personal and in-car GPS navigation products and services to the consumer mass market. The company was founded in 2000 in South Korea, and has grown to supply a market that spreads across the whole of Asia, Europe and North America. Fine Digital products are researched and developed in-house, resulting in high quality navigation systems that are easy to use. Our primary products are integrated devices, which enable our customers to navigate right out of the box. This document may include certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to various risks and uncertainties, including those set forth under the caption "Risk Factors" in the Company's Quarterly Report on Form 10-Q for the quarter ended June 26, 2005, as filed with the Securities and Exchange Commission. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. NAVTEQ does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.
Source: PR Newswire
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