NAVTEQ (NYSE: NVT), a leading global provider of digital map data for vehicle navigation and location-based solutions, has been chosen by Lowrance, a leader in consumer marine electronics worldwide, to provide NAVTEQ maps of North America for use in the first Lowrance portable automotive turn-by-turn navigation GPS: the iWay 500c portable in-vehicle navigation system with MP3 player. The
license agreement also formalizes the use of NAVTEQ maps in all of Lowrance's turn-by-turn navigation products launching in the continental United States and Canada over the next three years.
To make its first foray into automotive-specific navigation products, Lowrance turned to NAVTEQ to meet its requirements for comprehensive map data and technical expertise. Lowrance sought a data provider that offers a detailed and highly accurate representation of the United States and Canadian road networks. NAVTEQ's in-depth knowledge of the map data compilation and navigation software development processes and extensive history of successfully collaborating with its partners were also key factors in the Lowrance decision to license NAVTEQ Maps for its first portable in-car navigation system.
As a complete, easy-to-use on-dash in-vehicle GPS navigation system, the iWay 500c shows the motorist the way to any destination across town, or across the nation, using highly detailed mapping already preloaded on its substantial
20GB internal hard drive. Once the destination is selected, the system automatically displays the best route in a colorful pathway, and provides turn-by-turn guidance with visual and voice directions. If a turn is missed,
it automatically replots the route to quickly get the motorist back on course. The iWay 500c tracks both 12-parallel channel GPS and WAAS signals for superior location accuracy, displayed on a brilliant, 5" diagonal, high resolution, 256-color touch-screen TFT display which renders exquisite mapping detail. Unique to the iWay 500c are the features of an integrated MP3 player with built-in hard drive space for thousands of user-installed songs.
"The tremendous consumer and industry response to the launch of the iWay 500c followed by the product receiving SEMA's 2004 Best New Mobile Electronics Award has made for a very exciting time for the company. This validates our decision to partner with NAVTEQ to combine our quality product design and application with a first rate digital map to ensure a consistently high consumer navigation experience," said Larry Toering, Lowrance Senior Vice
"This agreement solidifies Lowrance confidence in what NAVTEQ brings to the table. It was a great experience to collaborate with Lowrance to help them bring this product to market. It's particularly exciting to see a company that has long proven a leader in GPS products make such an impressive entrance into the automotive navigation industry," said Winston Guillory, Senior Vice President - North American Sales for NAVTEQ.