Exercepts from an article I recently read:
SiRF Technology (SIRF), a San Jose, Calif.-based maker of GPS chips, this morning said it was cutting jobs and trying to restructure its business due to softening consumer demand. Already the worst performing tech stock for the year, shares of SiRF nosedived in early trading this morning.
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SiRF is the canary in the GPS coal mine. In other words, the GPS device market has hit the skids and we should expect more bad news, and more dominoes to tumble. Why? Look at SiRF's customers: Tom Tom, Magellan, NAVIGON, Sony and European white-label GPS maker, Binatone. If the macroeconomic trends are putting a damper on SiRF and its chip-buying posse, it isn't hard to extrapolate and see trouble for Garmin as well.
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For the full article please click here:
According to the author of this report the party for GPS is over? Is it really over? GPS has been the hottest holiday tech device that millions of people buying. Though most people whose daily trip to the office and back along the same road and intersections don't really need a GPS device still millions bought it because it was next coolest thing. GPS has found many uses. Hard to locate holiday spots, have to drive a friend to new location that you have driven to before, have to drive to a meeting to an obscure hotel in some remote area.....well, but these are not something you encounter daily some may argue. But, isn't it about making life convenient and you are not going to buy a GPS just because you need to drive your friend a new suburb. It's because you have a GPS that you know the exact roads and the exact turns to take that you offer to take him in first place. So, is it the classic chicken and egg question. Which comes first?
What do you think? Please share your comments on - the beginning of the end for GPS ....
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