Mio folds in the US

Mio folds in the US

New management apparently failed to turn the business around, and Mio lost even more market share.

MiTAC's acquisition of Magellan late last year raised questions in terms of Mio's future in the US.

GPS Business News points out that while Magellan is still a well known brand, it's up against market leaders Garmin and TomTom, and challengers Nextar and NAVIGON.

[Source: GPS Business News]

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