Mio is leaving the United States GPS market, according to GPS Business News. Citing a “source close to the business”, the publication says that three employees will remain after new management brought in last summer failed to turn around the business. In fact, Mio’s parent company MiTAC could only manage a six percent share of the US market in Q4 2008. And that’s with combined shipments of the Mio and Navman brands. Despite acquiring Magellan in December, it doesn’t appear that MiTAC believes business will improve.
That leaves Garmin and TomTom with the vast majority of the US market, and given TomTom’s financial hardships lately, it’s reasonable to expect that Garmin will continue to grab market share from TomTom this year. Eventually this could leave Garmin with a virtual monopoly in the US, as Rich from GPSTracklog points out. Not a good thing for end consumers like you and me.