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Why the GPS Party Is About to End

Posted on March 25, 2008

SiRF Technology (SIRF), a San Jose, Calif.-based maker of GPS chips, this morning said it was cutting jobs and trying to restructure its business due to softening consumer demand. Already the worst performing tech stock for the year, shares of SiRF nosedived in early trading this morning. SiRF experienced greater-than-expected softness in product demand from its customers, especially in the PND, or Personal Navigation Devices market, the company said in a press release.SiRF is the canary in the GPS coal mine. In other words, the GPS device market has hit the skids and we should expect mor...

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mobile , tech