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TomTom bleeds GPS share faster than expected due to phones

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TomTom bleeds GPS share faster than expected due to phones

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TomTom issued a warning Monday that its GPS units were losing share to Android and iPhone hardware faster than it first thought. Its North American stake was seeing a "faster rate of decline" than it saw at the start and would plunge 30 percent for all of 2011. Europe was seeing an expected 10 percent drop, but more of these GPS navigators were entry models and fewer were being stocked in stores....

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