Free Google App Shakes Wall Street
Google created quite a stir on Wall Street last week with the release of its Android based navigation app. The announcement hammered the stock of the two biggest GPS firms Garmin and Tom Tom. The GPS navigation sector has been a high flying one recently, with prices to match.
The release of the free Android application by Google shook the confidence of many GPS investors. Why pay for something you can get free? With the lead Google has in place with its Google Maps and Street view, I see a rocky road ahead for the GPS business.
With the APIs available in the Android SDK I would say there are many more surprises in store for the GPS industry. Voice recognition is another area that is provided by Android that far outpaces anything available from the leading GPS firms.
With web applications that will interface with the Android Apps, I would say that Google could dominate the GPS navigation sector in just a few short years. I'm sure after the trouncing the navigation stocks are taking, there are plenty of individuals who agree with me. What do you think? leave your comment.
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