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Navman to be axed?

pocketgpsworld.comWorrying news today with a tip from a Navman employee that suggests Navman is to abandon the SatNav market.

We have been told that Navman have laid off their sales and marketing teams and state that no new products will be launched.

Mitac bought Navman back in Feb 2007 and having chosen to further develop Navman's SmartST software in favour of continuing to license iGO the future of the Navman brand appeared secure.

Navman have a strong customer base in Europe and Oceana and so it made sense for Mio to retain the brand. However, Mio themselves have been struggling, acquisition of Navman and most recently Magellan in the US has proved expensive at a time when the economy is in freefall decline and they have in fact lost market share in the last quarter.

If this news proves true it will be very sad news. This site was launched in response to Navman's early iPAQ based Navigation solutions, one of the first portable consumer navigation applications available.
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