Garmin: A map in your Palm

Garmin’s dream, a satellite navigation device in everybody’s hand, is getting closer by the day. Unfortunately a lot of them are cell phones, not the dedicated devices Garmin makes. That’s one reason its shares are down about 70% from their high. And as the history of technology group Palm shows, Garmin’s shares may have further to go. Palm’s personal digital assistants were ubiquitous in the late 1990s. Its challenge came when cell phone markets boomed, and handset makers turned them into PDAs...