TomTom and Garmin execs can’t be feeling to good about their companies today, as their stock has fallen by 17% (Garmin) and 21% (TomTom). Those drops occurred only hours after Google revealed their new (free) voice by voice GPS services.
The new Google software will first be available on the Motorola Droid and then provided on various Google Android and other devices in the future. Apple has also announced that they are in talks to provide the awesome looking service on iPhone devices.
John Gruber predicts more doom and gloom for stand alone GPS companies:
The biggest objection is that the dedicated devices store all the map data locally. That’s great, and I’m sure it’s essential for some people. But the writing is on the wall. Google is entering the field. Their service is going to be free. It is going to improve constantly. Surely, eventually, map data will be stored (or at least cached) locally on devices. Soon enough, Google’s service will be both free and superior. Garmin and TomTom are toast.
I’ve always thought devices by Garmin and TomTom have been overpriced and lets face it, adding one new feature to a $200 device and selling it for $500 with solid MAP pricing to control cost hasn’t really helped their cause. It has basically just been a continuous cycle of suck.
According to the Inquisitr:
Google also reports that the data used will be stored in the cloud, using Google Maps and real-time information to make GPS navigation even more accurate.
Here’s a nice preview of the software:
Social Media