The decision to bin plans to make mobile personal navigation systems was announced today after analysts proved how hard the already saturated market was to enter. Just after Philips defeated announcement, sat nav giant and market leader TomTom saw shares rose 2 percent, while Philips execs watched their share price fall 1 percent.
Left feeling defeated and deflated, Philips admitted the market is saturated to such a level they have no plans on trying to enter.
By Lisa Malyon