Cobra calls it Quits in the GPS Market - Kindof
Bowing to increased pressure and price droops, Cobra has decided to exit the design and selling Mass Market for GPS devices. The NavOne line has had some limited success, but in the face of big competitors and a slew of brands coming in from all over the world at bargain prices, they just couldn’t achieve the footing or scale. "Cobra has not achieved profitability in the mobile navigation category for several reasons. The competitive environment for portable navigation devices has intensified and thus further pushed out prospects for positive returns on our investment," said Jim Bazet, Cobra's President and Chief Executive Officer.
They did however leave the door open to selling items that are designed and manufactured by others, “We will pursue profitable niche opportunities involving products …sourced from other vendors.”
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Posted by Scott Martin at December 13, 2007 6:40 AM
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