JVC Exits GPS/PND Market
JVC has announced plans to quit the GPS market. After announcing their KV-PX9 at an outrageous $750 they appeared not to have sold too many. So, while price points are dropping, the big players, namely Garmin, and TomTom are finding some traction with their brands without deep discounting. These brands have recognizable benefit advantages and the ability and scale to price profitably versus the myriad of low brand recognition units hitting the markets daily.
JVC mobile entertainment VP Bill Turner stated, “Primarily because the portable navigation business has turned into a price-only market with numerous new competitors entering almost daily, we opted to focus our business on the in-dash market instead.” He added, “We continue to study the portable navigation market and may re-enter it once we identify stabilization with regard to price points. Right now, too much volatility exists with regard to pricing and brand recognition isn’t a key component.”
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Posted by Scott Martin at May 18, 2007 11:24 AM