Google’s Free GPS Service Crushes Garmin, TomTom Shares

Investors fled GPS-makers' shares today after Google announced it would offer free turn-by-turn GPS directions in its Android phones and as a service for other mobile phones, like Apple's iPhone. Garmin shares dropped 17% and TomTom shares dropped 21%. What about Google's shortcomings, like its inability to store maps locally on devices? Daring Fireball's John Gruber has a nice rebuttal . The biggest objection is that the dedicated devices store all the map data locally. That’s great, a
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Tags: Apple, Daring Fireball, Dedicated Devices, Free Gps, Free Shares, Garmin Gps, Google, Gps Garmin, Gps Service, Iphone, John Gruber, Map, Maps, Mobile Phones, Objection, Rebuttal, Shares Investors, Shortcomings