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You don't think the market had already priced in the idea that cellphones were inevitably going to displace handheld GPS?

Based on the 15% drop today, no.

Exactly. This isn't the first cell phone / GPS combo; this isn't even the first version of Google Maps on a cell phone to integrate with GPS functionality.

Come to think of it, this drop probably has a lot more to do with TomTom's earnings than it does Google.

Tho' I can remember when Magellan dominated this industry, so much so that we all said Magellan when we meant GPS, like Xerox, Sellotape, Hoover and so on. Now no-one I know has a Magellan (tho' they do still seem to be in business).

I don't see any IPX7 rated Android devices, tho', that's the bare minimum for a GPS for real outdoor use.

Marine and Aviation equipment together account for about 15% of Garmin's revenue. The overwhelming majority of their business comes from exactly the segment Android is targeting.