Nokia's announcement it will be offering free sat nav to many of its mobile phone users has already had an impact on the likes of standalone manufacturers such as TomTom.
The sat nav firm - which is already in the mobile market with the iPhone cradle it released last year - has seen its shares slide more than 10 per cent today, which coincides with the Nokia announcement.
Google growth
The company, along with rival Garmin, has already seen significant competition come from the mobile sector in the shape of Google Navigation, which is available on high end Android phones.
But now Nokia has made the Ovi Maps announcement, TomTom has seen a slide of over 10 per cent in its share prices in the US, with Garmin also seeing a drop on its share prices.
The latter company has got its own mobile phone arm in the shape of an alliance with computer manufacturer Asus, so it will be intriguing to see how the sat nav market changes in the next few years with new companies muscling onto the scene.
Via Yahoo Finance
Your comments (2) Click to add a new comment
tech89
January 22nd 2010
2. TomTom have been dreaming in the clouds for fat too long, I'm glad Nokia has brought TomTom, Garmin and Apple back down to earth with a bang.
Affordable sat nav has arrived with Nokia. I bet Nokia thought this would teach them a lesson.
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not_the_messiah
January 22nd 2010
1. This is good news - might force TomTom to finally lower their inflated prices. I mean, £100 for the iPhone dock?! Do me a favour...
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