TomTom, Europe's largest maker of satellite navigation devices, reported a fall in fourth-quarter earnings and warned revenue this year would be lower as users swap dedicated devices for smartphones.
It reported a quarterly net profit of 3 million euros ($4.1 million), down 97 percent from a year ago, when TomTom benefited from a one-off tax gain, while quarterly revenue fell 7 percent to 268 million euros.
In 2014, the group expected full-year revenue of 900 million euros, against 963 million euros in 2013.
Analysts in a poll commissioned by Reuters had forecast a small quarterly net loss of 750,000 euros on revenue of 257 million euros.
Shares in TomTom were over 6 percent lower in opening trade.