Navigation devices set to take mass market route
location based services
portable navigation devices
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By John Tilak
BANGALORE, Sept 14 (Reuters) - Portable navigation devices are poised to take off this holiday shopping season as market leaders Garmin and TomTom race each other to make deeper inroads into the mass market by pushing out cheaper models.
The trend for entry-level gadgets will mean lower profit margins for Garmin Ltd (GRMN.O: Quote, Profile, Research) and TomTom (TOM2.AS: Quote, Profile, Research), but the companies are willing to make that sacrifice to lure consumers and go one up in their intense battle for market share, analysts said.
"Portable navigation devices are becoming a 'must have' device for a growing percentage of the population," JMP Securities analyst Ingrid Ebeling said.
Prices in the portable navigation devices market, worth about 8.5 billion euros ($11.79 billion) this year, have been sliding as Garmin and TomTom make more of their products for ordinary consumers.
The sleek gadgets show users where they are through preloaded maps on touch screens and also offer related information and features like a MP3 player and Bluetooth capability dep
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