When Google Enters a Market…

We all knew this day would come and we all knew when it did it would bring the usuals, namely the price of free.

Google announced it would release a free, GPS navigation app with turn-by-turn navigation for Android with the promise that they have an iPhone version in the works.

So what happened to Garmin and TomTom today?

Google Rules, Garmin and TomTom drool

Google Rules, Garmin and TomTom drool

Garmin dropped 14%, TomTom 36%.

Google went up nearly 10%!

All of this on the heels of TomTom releasing their $200+ GPS navigation system for the iPhone.  Oops much?

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