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Garmin’s shares fell 16 percent to $31.45 on Nasdaq, while TomTom’s shares closed around 21 percent lower on the Amsterdam Stock Exchange.

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Based on news that Google Maps on the new Verizon Droid has turn-by-turn directions (bringing the phone one step closer to replacing the stand-alone GPS)

Also in this article:  “TomTom, based in Amsterdam, introduced a $100 navigation application for the iPhone in August.”

… I know this is old news, but who thought it was a good idea to release a $100 iPhone app that is just a hair better than what you could get for free a few months ago and can get for free now…

Google’s Free GPS for Phones Threatens Garmin and TomTom - NYTimes.com

(via dpstyles)

Well over two years ago I read an article where a TomTom leader said they knew their financial dominance was going to be very short lived due to the democritization of the service they sold. They knew then their business would have to change. It’ll be interesting to see if they truly prepared for it (perhaps by getting every last $100 app sale they could, or by having a new service ready in the wings) or they did not.