Navigation down turn?

Navigation down turn?

It's been a glum couple of weeks for the navigation industry… Is the honeymoon period over? Well judging by recent news it seems that the party may be winding down.GPS chip manufacturers Sirf Technology has certainly felt the crunch. After announcing plans to lay off 7% of their workforce and with share prices sinking the firm is warning of hard times ahead. Add in the big news this week of TomTom's 10% drop in share prices. (See yesterday's blog)Now at the close of trading yesterday, TomTom's US based rivals Garmin's share prices were down a significant 8%. So, the big question is: Is this just the inevitable effect of the economic downturn slowing consumer spending, or is the navigation industry itself in decline?The next month will reveal more… Watch this space and I'll keep you up to date with the latest news from the markets!If you want to know more, here's a really comprehensive article from businessweekFind out what TomTom, Garmin and Sirf are speaking about at Navigation and Location Europe. Click here!


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