Wayfinder Shows Growth in Second Quarter Report
Activation rates for pre-installed Wayfinder navigation found to be between 30-50 percent depending on phone model, operator and geography.

This week Wayfinder came out with its second quarter report which showed solid growth, but still showing big losses. Net sales for the first 6 months was 29 MSEK and the loss after tax was -40 MSEK for the same period. The company has been recruting continuously and has today more than 100 emloyees. 

During the first half of 2008, Wayfinder's user-base continued to grow rapidly. In total, as of 30 June, Wayfinder had 2,055,000 users who downloaded and utilised the Company's applications. This is equivalent to an annual growth rate of 117%. The number of paying users rose by 161 % to 284,000.

Wayfinder works closely with a range of mobile operators, including Telefonica, Mobilkom, Si.mobil, Telenor, Tele 2, O2, 3 Italia, 3 Scandinavia, Vodafone, Movistar and India's leading operator, Bharti Airtel, as well as a number of leading handset manufacturers.

Towards the end of the second quarter, Sony Ericsson brought to market two mobile handsets with embedded GPS, the W760i and the C70, with Wayfinder Navigator factory-installed. Additionally Sony Ericsson announced the launch of another handset (expected in Q4) with integrated GPS, the C905, with Wayfinder Navigator factory-installed. At the time of reporting (August 20, 2008) the activation rate (the percentage of GPS phone users who activate the pre–installed Wayfinder Navigator) is substantially higher than anticipated. Depending on phone model and operator solution activation rates are ranging from 30-50 percent, bringing the total to 4 500 new customer accounts per day.

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