Google Maps Navigation is bad news for GPS companies

Google Maps Navigation is bad news for GPS companies

Google recently announced their new mobile application for Android powered smartphones.

Google Maps Navigation aims to offer free GPS powered navigation on mobile devices.

It is pretty powerful with integrated Google Street View and Voice Search.

And the best thing about it is that it would be provided as a free download.

This application is essentially a terrible news for GPS companies like Garmin and TomTom.

Stock prices of both these companies took a major hit after this mobile app was announced.

They make bulk of their revenues through similar solutions which are pretty expensive in nature.

Google is now offering a much better product for free. It is currently available only on Android but Google has plans to bring it to the iPhone and other mobile platforms.