Yes, the economy is challenged and yes geo and tech companies are feeling it, too. But TomTom is a bit worse off: analysts fear it may have to "refinance its debt before end-2009 and as consumer spending slows." TomTom's debt is 1.3 billion euros which includes debts from the 2.9 billion it spent on Tele Atlas.

Share dropped to 10.88 euros, the lowest ever. For comparison, share were at 17.5 euros in May 2005 hit a high of 66.70 euros last October 29.

One challenge analysts note is that sat navs have never been tested in an down market - all the recent sales have been in "good times." It's hard for me to think getting a first or upgrading an existing device would be a priority in tough times - UNLESS vendors offer them as money saving gadgets to find cheap gas and create more efficient shorter routes. They'll need to start telling that story right away.

- Reuters