The game has changed
By Chris Ziegler 
posted Oct 28th 2009 1:52PM
posted Oct 28th 2009 1:52PM
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Nice picture.
holy shit!
Follow it live!
http://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chdet=1256760000000&chddm=30&chls=IntervalBasedLine&cmpto=AMS:TOM2;NASDAQ:GOOG&cmptdms=1;0&q=NASDAQ:GRMN&ntsp=0
props for using google stock quotes when you linked :)
Maybe Google can provide turn-by-turn directions for where the stock price is headed?
*Turn left at 40%*
*or else TANK*
is it possible for google to be sued for anti-comptetitve practices when it only offers free products?
The 'game changed'? It's game over, man! GAME OVER!
dunno, dont think so
Will it really come to that, when Garmin and Tom(2) have no choice but to scream "NO FAIR"?
If so, then I'll still side with Google.
@ Macbeth
I lol'd
Yeah it would be nice if at least the title explained what was going on here haha...
So this is a chart showing the stocks of Garmin and TomTom plummeting because of news about Googles Free Nav for android...
http://gizmodo.com/5391408/google-maps-navigation-a-free-ass+kicking-turn+by+turn-mobile-app
> ...It's game over, man! GAME OVER!
http://www.youtube.com/watch?v=_Xm1XErUvXo
Oh Shit, they are going down faster than u can say gps
Gotta love the Garmin Ad on the right side of the page :D
At this rate Google is going to K.O, many companies...... vonage.... tomtom....garmin.... apple.....
Time to buy GRMN and TOM2 stocks.
So probably when the CEO of TomTom woke up this morning he had no idea the beginning of the end of his company was going to be announced. I hope he doesn't take all of his salary in stock options.
You just lost the game.
dammit engadget this is the THIRD time you changed the picture! make up your minds -___-'
Getting Googled takes on a whole new meaning...
Amazing! But, at least for Garmin they make GPS devices for purposes other than navigation (they have a great fitness line that is really second to none when it comes to the use of GPS for speed and distance measuring).
its going down faster than hotcakes!
From: Google
To: Garmin, Tom Tom
Subject: Greetings
ALL YOUR SATNAV ARE BELONG TO US! MAKE YOUR TIME! HA HA HA HA!
Awesome pic Chris. Epic thread.
They are going down faster than you can get a signal acquired and your position locked in!
Not until google offer offline mode.
I'd hate to burst everyone's bubble, but there stock hasn't gone down that much.. yet. Of course there stock is going to drop when a competitor introduces a competitive product. The fact that it is only on android limits at this point due to the number of phones on the marked and it, at this point, does not address dedicated navigation devices. I am seeing a drop, just not a Doomsday-for-Garmin-and-TomTom drop. But this does create great unrest in the satnav market, which is not good for Gamin and TomTom. Maybe a decent $99 satnav in the future?
Not forgetting this is also a slap in the face for Apple, as will probably won't get any more Google help..
Even Google's stock dropped!
Ouch!
ummm, what do you do when you don't have cell service? Don't get me wrong, this looks pretty rad, but having the maps onboard seems like a better idea.... Think of how long Google Maps take to load over a crappy Edge or 1EX connection on a BB or iPhone... Can you trust your driving to that?
Only Garmin is doomed but don't forget Garmin has also business in Avionics and Marine GPS.
Tomtom's got TeleAtlas while Nokia got Navteq. Google maps uses both of these products.
Shoulda put a pic of a tea bag on top of the stocks because Google is TEABAGGING EM!!! Instead of saying "ballin"!!! Google's saying to Garmin and TomTom "teabaaaaaag!!" LMAO!!! You just got Teabagged!!!
"Is it possible for Google to be sued for anti-competitive practices when it only offers free products?"
a) It's not free. They charge for their "google experience" apps. The difference is that they sell it wholesale to the carriers instead of retail to each individual.
b) Only works on Android phones. Requires network connectivity. Which means there's still plenty of room for Garmin and Tom.
c) How is offering a similar but cheaper service "anti-competitive"? I would say that's the exact definition of competitive.
Errrr, wut?
I think it's something about a blue GREMLIN and his friend TOM...
It's showing TomTom and Garmin stock prices dropping after Google announced their free GPS for android
It's a chart of the change in stock price for both Garmin and TomTom. Both took a steep dive after Google announced their new (free) turn by turn navigation today.
It's a chart in the change of the current reality - no distortion field applied.
Actually they are down so much because Tom Tom announced poor results with a 47% decline in income, proving there isn't as much money in this business as thought. Google's announcement is just another nail in the coffin.
Yo Garmin and Tomtom... I'm really happy for you, and I'mma let you finish... but Google just made one of the best navigation apps of ALL TIME... ALL TIME!
What AlCie said, only it's even more complicated than that. The major impact on share price is due to:
1. TomTom's 47% drop in income driven by average sales prices on navigation units = 99 Euros rather than the anticipated 109 Euros. This was a decrease of 12% over previous quarter and 27% over Q3 2008.
2. Google announced their free GPS deal on Android phones
3. Navigation devices are sold to people who don't already have them in their vehicles. Considering the cash for clunkers deals during Q3 2009, it's natural to expect that many of these new vehicles came with on-board navigation - increasing the number of cars for which the owner does not require a portable device.
If you want to better understand it, check out the press release by TomTom for their Q3 results here: http://files.shareholder.com/downloads/TOMTOM/758974255x0x326764/9D62C5E2-E6FD-4294-83CC-9B44FAAFD944/TomTom_press_release_-_2009_Q3_results_091028_final.pdf
And the analysis by Reuters here: http://www.reuters.com/article/marketsNews/idCNLS45892720091028?rpc=44&pageNumber=2&virtualBrandChannel=0
With that said, all of these are signs of an increasingly competitive market which means price competition will accelerate, meaning pressure to reduce prices for the software that TomTom, Navigon, and others are selling for the iPhone.
However, most agree that the share drop represents a market overreaction and we should see them correct in the next several weeks depending on how Christmas sales look for Q4.
Thug Aim
What does the data mean? o_O
Really? It's pretty self explanatory.
Chris you think to highly of your readers sometimes.
it means garmin's stock is down 17.22% so far today and falling...
The chart is showing the hit that Garmin and TomTom took since Google Maps decided to hit the road.
But some clarification is needed. According to the chart, TomTom's stock has been running at 10-20% lower than something since October 1st. Lower than last year's numbers? What is the 0% baseline being used? The chart makes it look like they are down 38%, but that 38% isn't just in the last day.
Templarian, you assume too much.
I have no idea about what "GRMN" means and what the chart shows, so please, be a little considerate.
I could too pick on americans not speaking any other language, but where's the point? Isn't it better for all to simply translate than laugh at them?
You could, but I'm American and I speak multiple languages, so choose a better strawman for your arguement.
But unless I'm mistaken (and I admit I probably am), the stock ticker markings are fairly universal to the world's various markets.
I'll try to explain it, (to the best of my abilities)
GRMN represents Garmin Industries. They and TOM2 (TomTom) are Mobile Navigation software makers. Earlier, Google announced that they would be launching a Navigation feature to complement the Maps application for free. This is bad news for Garmin and TomTOm because they have offered, and continue to offer navigational software (not to mention a $199 NuviFone by Garmin, and a $120 TomTom application and dock for the iPhone) at a price premium. In short, no one can compete with free, so once the news got out, soon enough the former's stock drops, while the latter (Google) starts to rise.
Although I haven't seen Google's curent finance report, I'm pretty sure it's going to rise.
Well said N900.
loocas, with all the news it was pretty obvious, "GRMN", even phonetically it sounds like it. And well Tom2 is just "Tom"^2.
Speaking the language isn't an excuse in this case. The stock names are not really suppose to be riddles.
@N900: "Although I haven't seen Google's curent finance report, I'm pretty sure it's going to rise." -- Actually, no. They're down about $7 from this morning's opening.
Of course, that's $7 out of $548, but still.
It means stocks change fairly willy nilly.
Thanks for the explanation.
Btw. You all assume that I'd watch and care about navigation software companies, while I couldn't care less, so, thanks again to those who explained and take care...
The [-] button is giggling from all the touchy-feely, go ahead, enjoy...
@John
You just blew my mind. I didn't even know that Google had such high shares. But then I looked them up (in Google Finance, ironically) and sure enough, they were in the 540's. Woah....
Google's share price is a little misleading. The company is valuable, but their share price is what it is because, unlike most companies, they don't ever split the stock. So, while the price per share is higher than most companies, the number of shares is lower.
Also, I would not expect Google stock to increase that much on this news since how they will make money on this is not that clear.
While I am here, I also think that Garmin and TomTom are probably getting beat up too much here. The reason they cost so much is the map license and there maps are far superior to any Google map. They also are working with car manufacturers to integrate their hardware/software into cars. More likely than not, in a few short years built in car GPS will be standard or nearly-standard (think A/C) on nearly every car. GPS nav future is in the car, not on a phone.
I think the stocks for Garmin, Tom Tom and other dedicated navigation device companies with spring back up once the ooh! it Google! faze has worn off and people realize that Maps doesn't have anywhere near the best maps to begin with. Their satellite maps are sometimes extremely dated and don't show whole buildings that were built years ago.
Directions from the Maps site are no where near as accurate as the dedicated navigation units. At the company I work for we do service calls to companies all over a five state area and they used to send Google Maps directions with the customer service packet but no longer do since so many times the directions were incorrect and useless. We all switched to using dedicated navigation units and have never had a problem since.
Google does not show a lot of secondary roads and roads within private areas such as large industrial sites and newer roads are not listed most of the time.
If this GPS Navigation program isn't many times better than the Maps they have been presenting for years then it is a half baked, mediocre offering that will not replace the dedicated units as someones main unit.
Oh Snap, google has them running
PWNED!
Came here for this. Leaving satisfied.
*is completely lost*
I like charts too! =D
satnav mrkt share
Only this time the game is real!!
Something about stocks moving in a general negative direction. Looks like TomTom and Garmin. Story plz?
Google
Google has released their own version of GPS navigation, for the fantastic price of free (as long as it is embedded (at this point) in your smartphone). Hence, you no longer need that $600 GPS device when you can get it for free. Watch the stock tumble.
And yes, I just dropped a double parenthetical. Deal with it.
What $600 device? You can get good branded GPS navigator for less than £100 over here and you don't need to be tied into any expensive data contract.
People who read this site enough to have user accounts and don't understand this graphic are mentally challenged.
Yes.
*Bingo!*
agreed
Soooo we were all supposed to know that the chart was about these companies stock prices, and we were supposed to have already scrolled past this article and read the one about Google's turn-by-turn navigation feature? I'm not so surprised by Engadget, but usually the comments are more reasonable than these.
Is this about Garmin and TomTom?
Not at all !! It's about the iPhone...
/s
These are the stocks of Garmin & TomTom .... What's happening man...
I'm sure those iPhone users that bought the $100 GPS app are still proud of themselves.
Of course the rest of us will likely get google GPS nav for free within the year.
Google's offering has one BIG caveat..it requires constant connection to the wireless network and relies on Google's servers to generate the routing and mapping info. TomTom's was expensive because they were loading all the same mapping data you get on an actual TomTom into your iPhone's storage.
This is yet another of Google's Betas... what happens when they tire of it (or worse lose the net neutrality debate!)
I feel sorry for them just buying that $119 accessory.
I'll get all that with a ROM update (Cyanogen...hurry up!!!!)
Dude. By "the rest of us" you're probably not including us poor iphone users in Apple's shackles?
Droid - why hello there.
@ DirtyVegas: it's pretty clear that is exactly what he meant.
lol mabhatter.
kind of like google tired of gmail when it was in beta for hundreds of years?
kind of like how google tired of google.com when it was in beta?
kind of like how...ah hell.
also: do you KNOW how awesome google servers are? do you even KNOW?! not that im a super fan of google but dayum.
"Google's offering has one BIG caveat..it requires constant connection to the wireless network and relies on Google's servers to generate the routing and mapping info."
Not a problem for me; I get unlimited data for $25/month.
"This is yet another of Google's Betas... what happens when they tire of it (or worse lose the net neutrality debate!)"
Then you're no worse off than you're now.
But, come on, get real: do you think that AT&T and T-Mobile would get very far if they say "sorry, you can't use Google's services, you have to use our own crappy navigation software"? Offering good services helps Google fight the fight for network neutrality.
Actually it will cache along your intended route, so even if have zero reception, it will still show you where you need to go.
Actually, no, I just read on.. Gizmodo? that it caches your route and nearby info when you depart, meaning WiFi or 3G at the starting point would be enough.
It does cache the route before you leave, so data should not be an issue in that case. However, if you are in a poor reception area and decide you want to change the route, or continue the route further out, you are out of luck. Google really needs to have the map data on the device, not on the internet.
From the looks of this, if you want a real nav device that you need to rely on, you still will want a dedicated device. However, if you need GPS nav a couple times a year (like most people), then this is probably a fine solution with an appropriate price, namely free.
Hey, I just heard somewhere that it caches your route. :-D
Do you get paid the same for just the title and a graph? If so , sweet gig!
From what I see it looks like the stock prices for Garmin and TomTom after Google announced free Turn-by-turn directions...
If, by "the game has changed" you mean "google just obsoleted an entire market segment and consumer electronics gadget," then yes.
Ethical? I guess it's just business.
Don't worry Obama will bail them out.
Please explain how this could possibly be construed as unethical.
Well, you see people's jobs depend on google not releasing free GPS, hence its unethical to compete in a free market, its just too hard to deal with real life.
Show me where I said it was unethical. If anything, I'd say the opposite.
Creating barriers to entry in an industry and keeping prices artificially high is probably unethical to consumers...
GPS companies like TomTom and Garmin have been milking consumers for years with poorly designed systems for exorbitant sums of money. Google maps has shown us for years that this kind of thing is easy to do better, but licensing restrictions have stopped it happening.
Google has actually been innovating in this market. TomTom and Garmin have been overcharging for too long. For them, it's the day of reckoning. Google going in to turn-by-turn was always the obvious next step, and if these two haven't prepared for it, they're just showing the same inertia which is making people turn to Google.
I agree. The spread offense has lead to a more exciting style of play and higher scoring games. Much better for TV audiences IMHO.
I agree, which makes it so hard to believe that the always struggling University of Minnesota Golden Gophers would abandon it whilst simultaneously ruining a very talented senior quarterback in Adam Weber...
It shows that Garmin and TomTom stocks are dropping like a rock now that Google is doing turn-by-turn directions in their Map software FOR FREE!
Rich