Not a good day for GPS companies. Garmin Above, TomTom Below
With the release of DROID by Motorola and Google, companies that focus on providing GPS navigation equipment have taken a beating. The graphic is of Garmin’s stock today, immediately after the announcement of DROID having Google Turn-by-Turn navigation, it dropped like a rock and it will be tough to pick it back up. If Google were to do this for the iPhone, it would be another 20% drop, but the day isn’t over, so we’ll see if they recover. Images from Google Finance.
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