Mitac International, maker of the Mio GPS line, is looking for new ways to make money thanks to a slumping GPS market. The manufacturer targeted shipments of 8 million PND’s for the year, but says it’ll have to revise that target though they haven’t released any numbers yet. Mitac didn’t mention whether it’ll also revise its goal to ship 10 million units in 2009. The company’s revenues have also taken a turn for the worse. Year-over-year revenues to November were only $140 million–a 35.5 percent drop from 2007.
The company, which not only offers portable devices but in-car solutions as well, said a slowing automotive market in the United States and Europe is hitting it hard. But, Mitac will work hard to move into emerging markets such as China next year.
We know that the company will release a Mio-branded mobile phone in the first quarter of 2009, and now it looks as if it’ll jump on the netbook craze to sustain growth. Mitac didn’t offer too many details here either, but did say at least one netbook model will feature a 8.9-inch display and Intel Atom processor.
