TomTom Lowers Guidance Because Nobody Wants To Buy Its Products

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TomTom, the maker of GPS devices, lowered its guidance and the stock is down. 

Why? 

Well basically, nobody wants to buy its products. That will tend to put a drag on earnings. 

GPS has become a feature, not a product, and cars and smartphones now come with very good GPS and guidance systems on their own. There’s no reason to buy a TomTom device. The company is now a case study in the consequences of technological disruption.

(Via Reuters)

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