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From NYT > Technology:
In the latest blow to the business, Google announced a free navigation service for mobile phones on Wednesday that will offer turn-by-turn directions, live traffic updates and the ability to recognize voice commands. The service will initially be available on only one phone, the new Motorola Droid, but will be expanded to more phones soon.
Shares of both TomTom and Garmin plummeted Wednesday after Google's
announcement. Garmin's shares fell 16 percent to $31.45 on Nasdaq,
while TomTom's shares closed around 21 percent lower on the Amsterdam
Stock Exchange.
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