LAS VEGAS, BEDMINSTER, NJ and CHICAGO — Verizon Wireless, the nation's premier provider of wireless products and services, today announced from CTIA Wireless 2006 that NAVTEQ has been selected as its preferred map data supplier for Verizon Wireless' Location Based Services (LBS) for consumers. NAVTEQ (NYSE: NVT) is a leading global provider of digital map data for location based solutions and vehicle navigation.
VZ NavigatorTM, the first service to be introduced under this agreement, is a tool for customers, giving them access to a wide array of LBS options, including mapping, audible turn-by-turn navigation and the ability to find over 14 million points of interest. VZ Navigator is perfect for road warriors who are constantly on-the-go, allowing them to see a map of their current location or an address in the U.S., locate places such as restaurants, gas stations, banks and other points-of-interest relative to their location, plus hear turn-by-turn navigation with audible voice directions to an address in the U.S.
NAVTEQ employs an extensive team of over 550 field researchers strategically located to drive the roads, verifying and updating information in the NAVTEQ® database. From turn restrictions to relative road crossing heights, every road segment captured in the NAVTEQ database has up to160 data attributes such as access restrictions, one-way streets and speed categories that help optimize navigation. Additionally, the NAVTEQ database includes the Points of Interest (POI) that make it easier to locate and route to different destinations and enhance location relevant services for consumers and businesses.
NAVTEQ map data is instrumental in enabling LBS from turn-by-turn navigation to Points of Interest proximity searches.
"NAVTEQ's industry-leading support and intimate knowledge of location-based services development ecosystems were critical components of our selection process," commented Jim Straight, vice president, data and multimedia services for Verizon Wireless. "NAVTEQ has the core data and post-sales support mechanisms to meet our customers' high expectations for quality, accuracy and ongoing improvement and we look forward to working together to expand our location-based services."
VZ Navigator is available now on the Motorola V325, a Get It Now®-enabled flip phone, offering Verizon Wireless customers the latest in technology and style. The Motorola V325 is available for $79.99 after a $50 mail-in rebate and a two-year customer agreement. VZ Navigator is now available in the getGOING shopping aisle of the Get It Now virtual store today for $9.99 for unlimited monthly access, or $2.99 for 24-hour use. Customers can download the application directly to their Motorola V325.
For more information about Verizon Wireless products and services, visit a Verizon Wireless Communications Store, call 1-800-2 JOIN IN or go to www.verizonwireless.com.
About Verizon Wireless
Verizon Wireless owns and operates the nation's most reliable wireless network, serving 51.3 million voice and data customers. Headquartered in Bedminster, NJ, Verizon Wireless is a joint venture of Verizon Communications (NYSE:VZ) and Vodafone (NYSE and LSE: VOD). Find more information on the Web at www.verizonwireless.com. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at www.verizonwireless.com/multimedia.
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 1,900 employees located in 131 offices in 23 countries.
NAVTEQ is a trademark in the U.S. and other countries. © 2006 NAVTEQ. All rights reserved.
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, 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 as a result of new information, future events or otherwise.