Despite the recession Navman Wireless have doubled their profits in the UK. Navman wireless are the biggest supplier of vehicle tracking products in the UK. The company has enjoyed a 90% increase since 2007. Back in 2007 they made a pre tax profit of £2.16m, but this year has seen a £4.11m proft.
This is down to a cast iron brand that people trust and the fact that vehicle tracking is the type of product that is helped by recessions. Why, because it helps you save money and increase profits.
Navman have said that they are going to continue to invest money in product development. Their aim is to improve their products so that they help their customers to even more money and become even more efficient.
They have not let the recession scare them into being stingy with research and development. They have kept up a high level of innovation and employ some of the brightest and sharpest talent in the industry. This is all part of their focus to be market leaders in GPS vehicle tracking systems.
The way to stay ahead in this competitive field is to be innovative and have the best product and for this reason they consider R&D very popular. They should know they track more than 100,000 vehicles around the world.
You can follow any responses to this entry through the RSS 2.0 feed.