Philips Postpones Introduction of GPS Devices
So I guess the big news that Philips made when they announced that they were getting into the GPS navigation business made a splash that washed even itself out of the pool. In an announcement this summer, Philips said that they are getting into the GPS navigation system business, which made people ask if the market was going to become too commoditized and erode profits for all. Well, apparently Philips has realized that getting into the GPS business is a little harder than they planned. Rudy Provoost, chairman of the Philips Consumer Electronics division stated in an interview with Betten Beursmedia that the introduction of the first products has been postponed until early 2007.
Provost says that, "it won't be here before Christmas, but there are lots of other important moments. We won't introduce in a one-size-fits-all-method, but rather a in very specifically targeted introduction, in which we will collaborate very closely with specific retail partners. We will use these extra couple of months to make sure it's done exactly right, and we will do this at our own pace."
It’s still an important segment for them to enter, with growth rates approaching 50% per year. Provoost says "We are still very motivated and committed to enter this market." They are also reportedly planning a US market entry.
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Posted by Scott Martin at September 6, 2006 10:16 AM
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