Mobileye (MBLY) to Wind Down Aftermarket Solutions Unit
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Mobileye to Wind Down Aftermarket Solutions Unit
March 18, 2024 8:30 AM EDTJERUSALEM--(BUSINESS WIRE)-- Mobileye has chosen to wind down its aftermarket solutions unit that provides retrofitted advanced driver assistance technology, after a thorough review of this units business prospects and investment needs.
As automakers and other vehicle manufacturers have steadily increased the rate at which integrated ADAS solutions are installed on new vehicles, the demand and future addressable market for retrofitted ADAS solutions has declined. As a result, this division has seen its revenues decline meaningfully, to roughly $40 million on an annual basis, and in recent years has not positively contributed to Mobileye profitability.
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