Global Navigation Solution Provider NNG Announces Outstanding Financial Results

Mumbai, 10th June, 2013: 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.”