“Garmin Ltd. said it would delay until next year the launch of its first device that combines a cellphone and GPS technology, and lowered its full-year outlook due to slower-than-expected growth in the GPS industry,” Shara Tibken reports for The Wall Street Journal.
MacDailyNews Take: Gee, you don’t say?
Tibken continues, “Garmin said its closely watched Nuvifone handset – which provides users with the ability to make calls, connect to the Web and navigate using GPS – won’t be available in the fourth quarter as expected. The company blamed carrier specific requirements taking longer than anticipated, and said it expects the launch the product during the first half of 2009.”
MacDailyNews Take: Yeah, riiight. iPhone, bitch!
Tibken continues, “Garmin shares fell about 14% in recent trading to $39.08 on the Nasdaq Stock Market. The stock hit a two-year low and is down 60% this year.”
MacDailyNews Take: Ooofha!
Full article here.
[Thanks to MacDailyNews Reader “KenC” for the heads up.]
MacDailyNews Take: Bloodbath.