Expanding on its SEMA awarding winning iWAY line of mobile navigation products, Lowrance's new iWAY 600c and iWAY 250c models combine the essentials of an in-dash system with the convenience of a portable device. Dual routing capability allows consumers to navigate both streets and waterways. Turn-by- turn voice guidance accompanies visual cues to enhance the user experience. Each iWAY boasts a high resolution color touch-screen display for optimal viewing of NAVTEQ map data. In addition, both PNDs feature built-in MP3 players and JPEG picture viewers.
The deluxe iWAY 600c comes pre-loaded with comprehensive NAVTEQ digital maps of the U.S. and Canada, along with electronic charts for U.S. inland lakes, the Great Lakes and coastal waters with depth contours. The iWAY 250c comes with an SD card loaded with NAVTEQ maps of the U.S. and Canada. Users of both PNDs will gain access to NAVTEQ's robust Points of Interest database which includes millions of high interest destinations such as restaurants, hotels, leisure facilities and gas stations.
NAVTEQ employs one of the industry's most comprehensive development and quality control programs. A team of approximately 600 extensively trained geographic analysts drive the roadways to capture data and specific road attributes such as one-way streets and speed limits that help optimize iWAY's routing capability.
"Lowrance chose NAVTEQ maps because they are the highest quality digital maps available," commented Darrell Lowrance, co-founder - Lowrance Electronics. "Our new iWAY models not only provide the level of map detail that we have come to expect from NAVTEQ but the PNDs display waterway information and satellite imagery of hundreds of major cities in the U.S. and Canada."
Lowrance has relied on NAVTEQ map data since the introduction of the first SEMA award-winning iWAY device two years ago. The iWAY 500c and iWAY 350c, powered by NAVTEQ data, have been recipients of the prestigious "Best New Mobile Electronics Entertainment Product Award."
"Lowrance initially came to NAVTEQ for its robust map data and knowledge in navigation development processes," stated Winston Guillory, Senior Vice President - Consumer & Business Sales, NAVTEQ. "Lowrance has leveraged its technological expertise as a leading manufacturer of marine electronics into a successful product offering of iWAY PNDs. NAVTEQ looks forward to Lowrance's continued achievement with its expanded iWAY series."
The iWAY 600c and iWAY 250c have a suggested retail price of $799 and $349 U.S., respectively.
Both iWAY models are premiering at the 2006 SEMA Show in Las Vegas, NV October 31, 2006 through November 3, 2006.
The Lowrance(R) brand is wholly owned by Navico, a privately-held, international marine electronics company. Having acquired several premium marine electronics brands in recent years, including Lowrance(R), Simrad(R), Eagle(R), and B&G(R), Navico is currently the world's largest marine electronics company, based on total number of units sold annually. Darrell Lowrance is the Chairman and CEO of Navico.
NAVTEQ is a leading provider of comprehensive digital map information for automotive navigation systems, mobile navigation devices, Internet-based mapping applications, and government and business solutions. 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 2,100 employees located in 139 offices in 25 countries.
NAVTEQ is a trademark in the U.S. and other countries.
This document may include certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to various risks and uncertainties, including those set forth under "Item 1A. Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2005 and "Item 1A. Risk Factors" in the Company's Quarterly Report on Form 10-Q for the quarter ended July 2, 2006, in each case as filed with the Securities and Exchange Commission.
Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. NAVTEQ does not undertake any obligation to update any forward-looking statements contained in this document.
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