TomTom CEO sees 15 mln '08 navigation device sales-paper

AMSTERDAM, July 5 (Reuters) - The chief executive of navigation device maker TomTom NV (TOM2.AS: Quote, Profile, Research) expects to sell 15 million navigation devices in 2008 despite difficult economic conditions, Dutch daily De Telegraaf reported on Saturday.

"The trend in the first half was bright: people keep buying our products," CEO Harold Goddijn said in an interview with the newspaper. "But of course there is still uncertainty about the second half of 2008," the paper quoted him as saying.

The European market leader has pioneered portable car navigation devices which sit above the dashboard -- one of the fastest-growing consumer electronics categories, but also one that has not been tested yet in an economic downturn.

Whether consumers squeezed by rising inflation, in particularly sharply higher petrol prices, will keep buying navigation devices is an open question, and it is also unclear if such devices will become as ubiquitous as mobile phones.

Investors in TomTom are also concerned over debt from its 2.9 billion euro ($4.6 billion) takeover of map maker Tele Atlas TA.AS.

TomTom has seen billions of euros of its market value evaporate in months and its shares have been on an extended losing streak, but Goddijn remained optimistic.

"I wouldn't sell my shares at this price level, better times will come again," he told the paper.

He also said he planned to pay extra attention to the firm's North American activities in the near future.

"We are not losing market share there at the moment, but it has to rise. Expansion of marketing and distribution is necessary."