NavStar Technologies’ stock began this morning with a bang as 14,000 traded shares increased the share price more than 14% from yesterday’s closing price. NavStar Technologies is looking to capitalize on the quickly growing GPS market with its unique product that is 100% hands-free and eyes-free, leaving the driver’s attention on the road.
The GPS market is expected to grow from 180 million units in 2007 to 720 million units in 2011; a 400% increase in just three years! In just this year alone the industry is anticipated to reach a global value of approximately $30 billion. This rapid growth provides companies such as NavStar with plenty of opportunities and room to grow with ease as well as stability.
The company recently formed a strategic alliance with Audex Telecom Industrial Co., Ltd to provide low cost, feature-rich, easy to use navigation products. The partnership combines Audex’s 10+ years of Bluetooth knowledge and The Voice Navigator that NavStar has been developing for more than 3 years.
Bob Lau from Audex Telecom commented, “We are pleased to be working with NavStar and believe that a combined Audex hands-free car kit with NavStar voice navigation capability has a significant place not only in the U.S. but also in China and other regions of the world.”
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