Backroad junkit12/9/2022 #Backroad junkit portableThe competitive environment for portable navigation devices has intensified and thus further pushed out prospects for positive returns on our investment," said Jim Bazet, Cobra's President and Chief Executive Officer. "Cobra has not achieved profitability in the mobile navigation category for several reasons. In total, the charge against earnings for the fourth quarter is anticipated to be approximately $7.4 to $7.7 million, although the company emphasized that this is an estimate based on information currently available to management and that these estimates will be refined prior to the company reporting earnings for the fourth quarter. Additionally, the company's inventories of earlier generation mobile navigation products are being written down to anticipated market value and reserves are being increased to accommodate the disposition of product returns by means other than returning them to vendors for credit against new products. #Backroad junkit softwareIn conjunction with today's announcement, Cobra will write off the intellectual property associated with its proprietary software platform. Cobra will continue to fully support all of its mobile navigation products that are currently in the marketplace, including retail promotions, technical support for consumers and normal warranty service claims. The company's decision to discontinue future development of mobile navigation products for the highly competitive mass market is based upon rapid technological change, price deflation that has been faster than anticipated, continuing high development costs and substantial delays in introducing new products that have adversely affected profitability and customer relations. Additionally, when such products are launched, the company plans to employ lower cost sourcing arrangements, utilizing the Performance Products Limited ("PPL") platform or that of other qualified vendors. Instead, the company will limit its efforts to unique mobile navigation products sold into niche markets with specialized and focused distribution. "Cobra Electronics Corporation COBR, a leading global designer and marketer of mobile communications and navigation products, today announced a major change in its mobile navigation strategy, ceasing all future development of mass marketed products. Maybe Cobra spent too much money on their basemap and not enough on ads I have 3 GPS recievers and the garmin is the one I will use for trac-logs.Nothing else- especially close cache hunting or placing - it really sucks at that. How come I can use the maps on my Cobra to go right to it? Only the Garmin maps are way off here on a major interstate.
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |