TMCnet News
Networks In Motion Opens New Subsidiary in Sweden TMCnet Contributing Editor Networks In Motion (News - Alert) (NIM) has announced a new European subsidiary, Networks In Motion AB, headquartered in Sweden.
The headquarters will offer the European mobile phone market GPS navigation, local search and other location-enabled services. The new subsidiary will also include business development, engineering and product management teams. Christopher Kingdon, managing director of Networks In Motion AB, will manage the newly hired European staff in the offices located at Olof Palmes Gata 13, Stockholm, Sweden. Business development and sales from other European countries will be handled by the additional staff.
“Up until now, we have been 100 percent focused on becoming the wireless navigation leader in the North American market,” said Doug Antone, president and CEO of Networks In Motion, in a statement to the press. “Over the past few years we have learned what it takes to be successful with major wireless carriers and partners including the resources and focus that are required.”
Antone believes the timing is right for NIM to enter the European market and is confident that Christopher Kingdon's extensive background with location-based services (LBS), wireless carriers and handset manufacturers will help them be successful.
“We know there will be unique challenges and opportunities and we are now prepared with the resources to earn business in this exciting new market,” concluded Antone.
According to research firm Berg Insight, revenues from mobile LBS in the European market will grow by 34 percent annually to reach EUR 622 million (approximately $809 million USD) in 2010.
By the same year, there will be 18 million users subscribing to location billing plans and navigation will account for 48 percent of mobile LBS revenues.
Networks In Motion's technology suite reportedly offers European versions of its reference products.
Networks In Motion (NIM) is a wireless navigation and local search company.
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Anuradha Shukla is a contributing writer for TMCnet covering call centers, CRM and information technology.
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