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Five Years and 218 Million IPhones Later

By Mark Milian and Jordan Robertson - 2012-06-29T21:39:55Z

Photograph by Atli Mar Hafsteinsson

Company Symbol % Change
8 of 10

Turn for the Worse

It has taken Garmin a little more than 20 years to sell 100 million of its GPS units and rival TomTom about eight years to sell 60 million of its devices. Personal navigation systems have steadily lost market share to all-purpose devices such as the iPhone, but there was one bit of bright news recently: Amid its rivalry with Google, Apple said it's dumping Google Maps as its default mapping app and creating its own, using data from TomTom. Ultimately, however, Apple's move will likely only intensify competition in the navigation business.