What do you say now, Garmin (Nasdaq: GRMN ) insiders? Are you still bullish after watching your chief competitor, TomTom, bring its $99 GPS software to Apple's (Nasdaq: AAPL ) iPhone App Store?
How could you be? Software is already making smartphones smarter than they've ever been, and Intel (Nasdaq: INTC ) , Advanced Micro Devices (NYSE: AMD ) , and NVIDIA (Nasdaq: NVDA ) are making more and better brain-boosters for small devices.
A market of smarter smartphones means that stand-alone GPS devices could soon go the way of the print server. TomTom's software brings you and the rest of us one step closer to those dog days.
That's annoying. CAPS All-Star catoismymotor explains why:
Despite the reservations and the $99 price tag, the TomTom app for the U.S. and Canada was already the No. 2 most popular paid GPS application in the App Store as of Monday afternoon, and it's only a matter of time before TomTom starts releasing updates to iron out the kinks.
You're supposed to be the unquestioned leader in this market, Garmin; the company who saw this coming so long ago, you announced plans for a smartphone of your own. You have GPS software for Research In Motion's (Nasdaq: RIMM ) BlackBerry. You've teamed with Nokia (NYSE: NOK ) , owner of your primary digital map keeper (and one-time Motley Fool Stock Advisor selection) Navteq. Your GPS software is everywhere -- except on the iPhone.
What's that? It doesn't matter, you say? Prove it. Buy more shares, Garmin insiders. Show us you've a plan to keep your core business from dying a very slow, painful death. TomTom and Apple have their hands at your throat, and they're squeezing.
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