YouTube - Android 2.0 Official Video. Announcing Google Maps Navigation f. Google’s New Mobile App Cuts GPS Nav Companies At The Knees. Google released a new mobile navigation app today and GPS navigation companies such as Garmin And TomTom saw their shares take a plunge.
The announcement shaved $1.2 billion off of Garmin’s market cap alone. Its shares are down more than 16 percent so far today to $31.60.