Garmin LTD (GRMN) Shares fall on Google Navigation App news

Shares of Garmin Ltd. (Public, NASDAQ:GRMN) are down 16% today on news of Google Android 2.0's new Navigation app.Google can now display these maps without having to pay royalties to a third party and without having to negotiate a new contract with Tele Atlas.

In one swoop, Google has demolished the GPS industry. Mapping companies like Tele Atlas or NAVTEQ make their money by licensing their data to GPS developers like TomTom or Garmin.

Here are some features of the new Google GPS app:

Search in plain English
Google Maps Navigation brings the speed, power and simplicity of Google search to your car. If you don't know the address you're looking for, don't worry. Simply enter the name of a business, a landmark or just about anything into the search box, and Google will find it for you. Then press "Navigate", and you're on your way.

Search by voice
Typing on a phone can be difficult, especially in the car, so with Google Maps Navigation, you can say your destination instead. Hold down the search button to activate voice search, then tell your phone what you want to do (like "Navigate to Pike Place in Seattle"), and navigation will start automatically.

Traffic view
Google Maps Navigation gets live traffic data over the Internet. A traffic indicator light in the corner of the screen glows green, yellow or red, depending on the current traffic conditions along your route. If there's a jam ahead of you, you'll know. To get more details, tap the light to zoom out to an aerial view showing traffic speeds and incidents ahead. And if the traffic doesn't look good, you can choose an alternate route.

Search along route
For those times when you're already on the road and need to find a business, Google Maps Navigation searches along your route to give you results that won't take you far from your path. You can search for a specific business by name or by type, or you can turn on popular layers, such as gas stations, restaurants or parking.

Satellite view
Google Maps Navigation uses the same satellite imagery as Google Maps on the desktop to help you get to your destination. Turn on the satellite layer for a high-resolution, 3D view of your upcoming route. Besides looking cool, satellite view can help you make sense of complicated maneuvers.

Street View
If you want to know what your next turn looks like, double-tap the map to zoom into Street View, which shows the turn as you'll see it, with your route overlaid. And since locating an address can sometimes be tricky, we'll show you a picture of your destination as you approach the end of your route, so you'll know exactly what to look for.

Here it is in action: