View Full Version : Whats up with Garmin?
Are we going to be able to buy updated maps now that they lost there map supplier? Whats this mean for the future of Garmin. I see there stock has dropped a lot.
have you contacted the company?
ChinMusic
11-16-2007, 12:26
Are we going to be able to buy updated maps now that they lost there map supplier? Whats this mean for the future of Garmin. I see there stock has dropped a lot.
I think you are misreading the news story.
Garmin simply withdrew its bid for Tele Atlas. Garmin still gets its map data from Navteq, and will for a LONG time.
Garmin stock flew over the past few months on speculation regarding Tele Atlas. Its stock value is STILL up 50% from the summer and UP 13% today.
Tele Atlas data is crap for most of rural PA. They still have five-digit LR numbers for roads even though the numbers got changed with all the signs some two decades ago. They could get a free statewide data dump with all the state roads to correct all at once but apparently don't care.
It would be nice to have a link.
ChinMusic
11-16-2007, 12:52
It would be nice to have a link.
Take your pick:
http://finance.aol.com/quotes/garmin-ltd/grmn/nas?freq=1&dr=12&daysb4=0
ChinMusic
11-16-2007, 13:01
Here is the stock action for 2007. Garmin is in blue and TomTom is in red:
http://i19.photobucket.com/albums/b186/ChinMusicIHSS/Garmin.jpg
Fiddleback
11-16-2007, 17:14
Garmin signed a six year extension with Navteq. Once they dropped their bid for TeleAtlas, Garmin stock took a pop; up ~ 16 1/2% today.
QUOTE Tele Atlas was a tempting target for Garmin as the only major independent digital map supplier around. TomTom first put in an offer for the map-maker in July, a move that rattled technology companies worried about seeing a rival snap up a major supplier of digital maps. Nokia's pricey acquisition of Navteq in October was partly in response to TomTom's move, with the result of pushing Garmin--one of Navteq's biggest customers--to chase after Tele Atlas. (See "Nokia Redraws The Map" (http://www.forbes.com/technology/2007/10/02/nokia-navteq-deal-tech-wire-cz_bu_1002technokia.html))
But Navteq seems to have worked hard at keeping its main customer on board, while Garmin has avoided a painfully expensive acquisition.
"Extending our agreement with Navteq ensures the availability of quality mapping data for our customers, and provides a basis for enhanced co-operation which is a win-win for both Garmin and Navteq," said Garmin Chief Executive Min Kao. END QUOTE http://www.forbes.com/2007/11/16/garmin-tomtom-update-markets-equity-cx_ll_af_1116markets34.html?partner=yahootix
FB