TomTom to Team with Apple;Stock Jumps 17%

After some tough months I’m sure the folks at TomTom were pleased with the market response to the announcement made yesterday at Apple World Wide Developer Conference. For now,TomTom is the only nav developer to partner with Apple. The first app,and a car kit for the iPhone,is slated for release this summer,when further details and pricing will be shared. One analyst suggested a $50 price point,about the same level as TomTom’s introductory hardware offering,though this is far above the price of most apps in the AppStore.

- Wall Street Journal