Following the announcement from Nokia offering free Sat Nav to many of its mobile phone users it would seem that standalone manufacturers have already felt the pain.
TomTom the sat nav firm which is already in the mobile market with the iphone cradle it which was released last year has seen its shares take a nose dive in more than 10% today just after Nokia’s announcement.
Along with rival company Garmin has already been faced with the competition from the mobile sector in the shape of the much talked about Google Navigation, which is found mostly on high end Android phones.
Garmin have also suffered a drop in share prices in the US since the announcement made by Nokia. It will be very interesting to see just how much the sat nav market changes over the next few years with new companies getting in on the act. Source – techradar.com