Apple rebuilds mapping app
Apple is rebuilding the widely used mapping application on its iPhones from the ground up with its own dataset, but Amsterdam-based TomTom will continue to be a data provider for Apple's maps app, Cupertino, California-based Apple told Reuters on Friday.
It did not say how its use of TomTom would compare to its previous use, but TomTom shares fell after the news.
Apple said it is completely rebuilding its Maps app, the most frequently used app on its iPhones, with data gathered by its own fleet of sensor-equipped vans and with anonymous data from iPhone users that choose to share it.
Technology publication TechCrunch reported Apple's mapping effort earlier on Friday. After the story was published, TomTom shares fell as much as 5% from session highs before closing the day down 1.7% from the previous day at 7.76 euros.