Tech Hardware Supply Chain - Gazhoo

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Bhavin Shah (852) 2800-8538 bhavin.a.shah@jpmorgan.com 84 Asia Pacific Equity Research 20 April 2009 GPS market ecosystem The emerging handset GPS market comprises chip vendors, providers of maps and location information, geospatial platform providers, handset vendors, and mobile operators. (Please refer to the 5th Edition of our <strong>Supply</strong> <strong>Chain</strong> Guide for a more detailed discussion.) Figure 44: GPS ecosystem for mobiles Mobile Operators Sprint Nextel Verizon AT&T GPS Mobile phone vendors Motorola Nokia RIM HTC Garmin (Nuvifone) Pharos Chipset Providers Digital Map Providers Platform Providers CSR Nokia (Navteq) Network in Motion Broadcom Tom Tom (TeleAtlas) TeleNav NemeriX Google Trimble Outdoors Qualcomm Microsoft SiRF Texas Instruments u-blox Mediatek Source: J.P. Morgan. Chipset vendors Semiconductor solutions for GPS technology come as complete solutions in the form of a chipset with one, two or three chips. Successful solutions are the ones that offer low chipset prices, a small footprint in circuit boards, low power consumption and good signal connectivity. The semiconductor cost of integrating GPS or A-GPS modules to a handset was about US$2 in 2008. According to Gartner, this cost is expected to fall to US$1.45 by 2010. Digital map providers The demand for digital map information has been growing with the increased adoption of PNDs and the emerging GPS-enabled handset market. The competitive landscape continues to change as TomTom announced the acquisition of Tele Atlas in November 2007 and Nokia announced the acquisition of Navteq in October 2007. With the launch of Google’s GeoEye1 satellite in September 2008, which provides high quality color satellite images, Google might start getting its own mapping data, thus leading to the possibility of a new competitor in this space. Google’s mobile mapping service Google has introduced a mapping service called “My Location”. My Location software uses Google maps and cell phone towers to provide this service. Users simply type the number “0” on their phone to move the map to their approximate
Bhavin Shah (852) 2800-8538 bhavin.a.shah@jpmorgan.com Asia Pacific Equity Research 20 April 2009 location. Google is offering the service for free, and is expected to eventually introduce local advertising that takes advantage of the location-aware service. The “My Location” service is independent of carriers. Future outlook Although GPS has secured a firm hold in the standalone and embedded market for the automotive segment, this functionality is expected to become a major trend in the mobile handset market. Falling cost of semiconductors in GPS systems and government regulations should continue to drive GPS adoption in mobile phones. With the launch of these phones with larger screen size and cleaner displays, GPS might become a welcome application. However, although the semiconductor integration cost of these modules is falling, the cost of implementation is a problem. The navigation technology has an adverse effect on the battery life, and with the current trend towards ultra-thin handsets, space is a major constraint. The high tariffs charged for location-based services by the operators might also slow down the market. Gartner predicts that GPS penetration in mobile phones was 18.2% in 2008 and it should reach 43.3% in 2011. Figure 45: Penetration of GPS or A-GPS-enabled mobile phones in mobile handsets (2005-2011) 50% 40% 30% 20% 10% 0% 11% 11% Source: Gartner Dataquest. Mobile TV 14% 19% 2005 2006 2007 2008 2009 2010 2011 26% Penetration of GPS and A-GPS in mobile handsets Mobile television services—delivered over cellular networks to handheld wireless terminals—offer great potential as revenue generators for players across the value chain (e.g., network operators, broadcasters/content providers, and equipment manufacturers). The big drivers of mobile TV services are major sports events such as the World Cup or Olympics, together with other services such as updates on news, weather, etc. The TV is one of the biggest media and perhaps the last one to be missing from mobiles. Mobile digital TV (DTV) appears to be in position to be a significant demand driver for the next generation of wireless handsets as consumers look for convergence in communications and entertainment on a single device. There are three primary open standards developed by industry associations (DVB-H, ISDB-T and DMB), and some proprietary standards such as Qualcomm’s MediaFLO (developed in the US). Others such as China’s homegrown standards like China Mobile Multimedia Broadcasting (CMMB) are still in nascent stages. As of January 20 2009, CMMB signals were available in 150 cities in China. However, the service had been commercially launched by China Telecom in only Changsha 34% 43% 85
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Tech Hardware Supply Chain - Gazhoo

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