NVST.PK closed at $0.009, a tenth of a cent lower than its high of day at $0.01. Since the beginning of this year volume has increased significantly and has showed no signs of slowing down. On Wednesday the company announced that it would be utilizing the maps of NAVTEQ (NYSE:NVT) in their flagship product, “The Voice Navigator.”
The Senior Vice President, Consumer & Enterprise, of NAVTEQ commented, “NAVTEQ is pleased to be powering a device that offers a new approach to getting people to their destinations in the most efficient and accurate manner possible. We look forward to supporting NavStar as it enters the growing connected services industry.”
Navstar’s Voice Navigator advantageously uses the consumer’s existing wireless connection and service plan to download the most up-to-date maps and points of interest, which include over six million listings including airports, restaurants, hotels, banks, gas stations and other popular destinations. With the ability to provide users with a route to the exact address desired or point of interest, the NavStar is sure to be a quickly emerging player in the GPS market.
The Voice Navigator stands out from the rest of the industry as it is the first commercially available product that creates a true hands-eyes-free turn-by-turn experience. The company has for the first time successfully combined the safety of hands-free driving while simultaneously providing voice navigation.
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