Navigon withdraws from GPS business in North America

Man, talk about coming straight out of left field. After blowing it out at CeBIT just two months ago, Navigon has just announced its intentions to pull out of the navigation business here in North America. According to CEO Egon Minar: "Due to the difficult economic environment and the aggressive pricing we have decided to withdraw from the PND business in North America for the time being. We are however not closing down our Chicago office which will continue to serve our automotive and mobile phone businesses in North America." He did assert that the company would "continue to fulfill all obligations to its existing PND customers in terms of map updates, etc.," but nothing else on the subject was said. So long, Navigon -- we'll miss your "uber-premium" wares.

[Via SlashGear]