Stock performance today for Garmin and TomTom looked like a cliff following Google’s announcement of Google Maps Navigation for Android. It may have everything something to do with the fact that Google Maps Navigation will be included for FREE on Android handsets running 2.0.

The new Motorola DROID will have turn-by-turn directions provided by Google Maps, and other Android phones will receive it with the 2.0 upgrade. As a result of Google’s announcement, Garmin stock fell 17.2% and TomTom shares plummeted more than 20% respectively. It will be interesting to see how Garmin and TomTom respond.

source: Talk Android