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WirelessDevNet.com Press Release
NAVTEQ and NavInfo Open Joint Venture Office in China
CHICAGO, Oct. 15 -- NAVTEQ (NYSE: NVT), a leading
global provider of digital maps for navigation systems and location-based
solutions, has joined forces with NavInfo, the leading provider of a navigable
digital map for China, to enable the creation of world class navigation
applications and location based services to meet Chinese market demand.
Working together as NAV2, the joint venture combines NavInfo's map
development expertise, as the provider of China's first navigable map, and
NAVTEQ's global marketing and technical map building know-how.
NavInfo has distinguished itself in both building and commercializing
Chinese digital maps for navigation. NavInfo has the legal certification to
develop a navigable Chinese map database for the entire country. Coupled
with marketing and technical support, NavInfo has established a leadership
position in the creation and delivery of commercial navigable map products.
NAVTEQ is the most widely recognized name for navigable digital maps.
NAVTEQ(TM) Maps span over 40 countries on four continents. Every major
automobile manufacturer that currently offers a navigation system in North
America and Europe uses NAVTEQ maps in one or more of their models. This
market-leading position has been achieved through the integrity of the build
processes that deliver a map database of unique quality.
NAV2, located at 212 Jianjiang Road in the heart of Shanghai's business
district, will combine the strengths of NavInfo and NAVTEQ to serve the needs
of the growing Chinese automotive, consumer and business segments by offering
a legal navigable map, developed by NavInfo, as well as support and
distribution services.
Commenting at the office opening ribbon cutting ceremony held on October
15, Judson Green, President and CEO of NAVTEQ said, "The strength of NAV2 is
the strong commitment that each partner brings to this relationship. Together
with NavInfo's market knowledge and leadership, we plan to provide the most
complete digital mapping solutions for our customers."
"NAVTEQ's marketing strength and NavInfo's digital map will undoubtedly
have a powerful impact on the Chinese navigation market. Our goal is to offer
the best digital map solutions to Chinese businesses and consumers. Together
as NAV2, we believe we will promote the further development of the Chinese
navigation market," said Dr. Sun Yuguo, President of NavInfo.
About NavInfo
NavInfo is the market leader engaged in R&D, manufacturing and managing a
comprehensive, navigable map of China. NavInfo's digital Chinese map has been
wildly used in automotive navigation systems, mobile devices and Internet-
based location applications. As a legal company, NavInfo has a Chinese A-
rating for surveying and mapping and is the first company to have obtained
permission from the Chinese government to manufacture and sell a navigable
Chinese map. All NavInfo map products have passed the legal map inspection
and are published through legal channels.
NavInfo is a trademark in China. All rights reserved.
About NAVTEQ
NAVTEQ is a leading provider of comprehensive digital map information for
automotive navigation systems, mobile navigation devices and Internet-based
mapping applications. NAVTEQ creates the digital maps and map content that
power navigation and location-based services solutions around the world. The
Chicago-based company was founded in 1985 and has approximately 1,400
employees located in over 100 offices in 20 countries.
NAVTEQ is a trademark in the U.S. and other countries. All rights
reserved.
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