Glenn Reynolds has a post today illustrating what happens in a market that experiences a decrease in demand.
I bought a Garmin GPSMap CSX60 hand-held GPS for geocaching last fall. I was surprised that what many consider the top of the line hand-held unit came out in 2006. Surely with all the improvements in technology since then, a better hand-held has come out since then. Apparently not, and my guess is that's because the newest GPS technology is being put into smartphones and, as you'd expect, that's being shown in prices.
I have a Droid Incredible which, apart from it's crappy battery, is incredible. I especially like the ability to speak my destination into the phone's microphone and having Google's navigation software be able to plot my directions. It's obviously a lot safer than trying to tap in a destination while driving and it's more convenient than pulling over to the side of the road to enter the destination.
Also, I like my phone's tracking software which allows the user to record walks, bike rides, drives, etc. and be able to calculate distance traveled, elevation changes, etc. This weekend I went camping in Whitewater State Park in SE Minnesota and I took my phone with me on a hike to use the tracking software. I also brought my Garmin. But while I used my phone to check my tracks, radar, email, etc. my poor Garmin spent the hike in my pocket.